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| Ex-Div Reminder for Bank of America Corp.'s 7% Capital SecuritiesBy Preferred Stock Channel Staff, Friday, January 25, 1:34 PM ET
On 1/29/13, Bank of America Corp.'s 7% Capital Securities (NYSE:CFC.PRB) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 2/1/13. As a percentage of CFC.PRB's recent share price of $25.47, this dividend works out to approximately 1.72%, so look for shares of CFC.PRB to trade 1.72% lower — all else being equal — when CFC.PRB shares open for trading on 1/29/13. On an annualized basis, the current yield is approximately 6.87%, which compares to an average yield of 5.41% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, CFC.PRB was trading at a 1.96% premium to its liquidation preference amount, versus the average premium of 3.21% in the "Financial" category. The chart below shows the one year performance of CFC.PRB shares, versus BAC:
Below is a dividend history chart for CFC.PRB, showing historical dividends prior to the most recent $0.4375 on Bank of America Corp.'s 7% Capital Securities: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
According to the ETF Finder at ETF Channel, Bank of America Corp. (NYSE:BAC) makes up 8.06% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG) which is trading higher by about 0.3% on the day Friday. See what other ETFs contain BAC » In Friday trading, Bank of America Corp.'s 7% Capital Securities (NYSE:CFC.PRB) is currently down about 0.1% on the day, while the common shares (NYSE:BAC) are up about 0.6%.
Find the right mix of model portfolios today at PortfolioChannel.com
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