On 6/11/14, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B (Symbol: OFG.PRB) will trade ex-dividend, for its monthly dividend of $0.1458, payable on 6/30/14. As a percentage of OFG.PRB's recent share price of $24.40, this dividend works out to approximately 0.60%, so look for shares of OFG.PRB to trade 0.60% lower - all else being equal - when OFG.PRB shares open for trading on 6/11/14. On an annualized basis, the current yield is approximately 7.17%, which compares to an average yield of 5.53% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of OFG.PRB shares, versus OFG:
Below is a dividend history chart for OFG.PRB, showing historical dividends prior to the most recent $0.1458 on OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B :
According to the ETF Finder at ETF Channel, OFG Bancorp (Symbol: OFG) makes up 1.57% of the SPDR S&P Regional Banking ETF ( KRE ) which is trading relatively unchanged on the day Monday.
In Monday trading, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B (Symbol: OFG.PRB) is currently trading flat 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.