Credit: Shutterstock photoOn 10/13/15, PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P (Symbol: PNC.PRP) will trade ex-dividend, for its quarterly dividend of $0.3828, payable on 11/1/15. As a percentage of PNC.PRP's recent share price of $27.63, this dividend works out to approximately 1.39%, so look for shares of PNC.PRP to trade 1.39% lower - all else being equal - when PNC.PRP shares open for trading on 10/13/15. On an annualized basis, the current yield is approximately 5.53%, which compares to an average yield of 5.75% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of PNC.PRP shares, versus PNC:
Below is a dividend history chart for PNC.PRP, showing historical dividends prior to the most recent $0.3828 on PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P :
According to the ETF Finder at ETF Channel, PNC Financial Services Group (Symbol: PNC) makes up 11.59% of the iShares U.S. Regional Banks ETF ( IAT ) which is trading lower by about 1.4% on the day Friday.
In Friday trading, PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P (Symbol: PNC.PRP) is currently off about 0.2% on the day, while the common shares (Symbol: PNC) are down about 1.2%.
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.
