Markets

OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock About To Put More Money In Your Pocket

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Shutterstock photo

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On 12/28/16, OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock (Symbol: OFG.PRD) will trade ex-dividend, for its quarterly dividend of $0.4453, payable on 1/17/17. As a percentage of OFG.PRD's recent share price of $24.05, this dividend works out to approximately 1.85%, so look for shares of OFG.PRD to trade 1.85% lower - all else being equal - when OFG.PRD shares open for trading on 12/28/16. On an annualized basis, the current yield is approximately 7.39%, which compares to an average yield of 5.70% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of OFG.PRD shares, versus OFG:

Performance Comparison Chart

Below is a dividend history chart for OFG.PRD, showing historical dividends prior to the most recent $0.4453 on OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock :

OFG.PRD+Dividend+History+Chart

In Tuesday trading, OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock (Symbol: OFG.PRD) is currently down about 0.2% on the day, while the common shares (Symbol: OFG) are up about 0.7%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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