On 11/10/15, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 11/30/15. As a percentage of OFG.PRA's recent share price of $19.89, this dividend works out to approximately 0.75%, so look for shares of OFG.PRA to trade 0.75% lower - all else being equal - when OFG.PRA shares open for trading on 11/10/15. On an annualized basis, the current yield is approximately 9.13%, which compares to an average yield of 5.71% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of OFG.PRA shares, versus OFG:
Below is a dividend history chart for OFG.PRA, showing historical dividends prior to the most recent $0.1484 on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A:
According to the ETF Finder at ETF Channel, OFG Bancorp (Symbol: OFG) makes up 1.86% of the PowerShares International Dividend Achievers Portfolio ETF ( PID ) which is trading relatively unchanged on the day Friday.
In Friday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) is currently up about 2% on the day, while the common shares (Symbol: OFG) are trading flat.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.