Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
Free Dividend Report - Top Ranked Stocks

Featured MNV Articles:

Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 Goes Ex-Dividend Soon
Thursday, February 9, 2:29 PM ET, by Market News Video Staff

On 2/13/17, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (BML.PRG) will ...

SSO, BAC, PFE, MRK: Large Outflows Detected at ETF
Monday, February 13, 10:52 AM ET, by Market News Video Staff

Symbols mentioned in this story: SSO, BAC, PFE, MRK Exchange traded funds (ETFs) trade just ...

Interesting June 2018 Stock Options for BAC
Monday, February 13, 12:03 PM ET, by Market News Video Staff

Consistently, one of the more popular stocks people enter into their stock options watchlist at ...

Noteworthy Tuesday Option Activity: TAP, BAC, AIG
Tuesday, February 14, 2:32 PM ET, by Market News Video Staff

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume ...

Tuesday Sector Leaders: Healthcare, Financial
Tuesday, February 14, 2:42 PM ET, by Market News Video Staff

Looking at the sectors faring best as of midday Tuesday, shares of Healthcare companies are ...

  More articles:  1 2 3 4 5 6 7 next »

Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 Goes Ex-Dividend Soon

By Preferred Stock Channel Staff, Thursday, February 9, 2:29 PM ET
Play Video: The Importance of Dividends


If the video does not load after a few moments, Upgrade to the Latest Flash Player.

On 2/13/17, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (NYSE:BML.PRG) will trade ex-dividend, for its quarterly dividend of $0.1875, payable on 2/28/17. As a percentage of BML.PRG's recent share price of $20.41, this dividend works out to approximately 0.92%, so look for shares of BML.PRG to trade 0.92% lower all else being equal when BML.PRG shares open for trading on 2/13/17. On an annualized basis, the current yield is approximately 3.68%, which compares to an average yield of 5.58% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, BML.PRG was trading at a 18.36% discount to its liquidation preference amount, versus the average premium of 4.98% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of BML.PRG shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BML.PRG, showing historical dividends prior to the most recent $0.1875 on Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 :


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 8.75% of the iShares U.S. Financial Services ETF (IYG) which is trading relatively unchanged on the day Thursday.

See what other ETFs contain BAC
See what other stocks are held by IYG

In Thursday trading, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (NYSE:BML.PRG) is currently trading flat on the day, while the common shares (NYSE:BAC) are trading flat.


This Article's Word Cloud:   America   Bank   Channel   Corp   Cumulative   Financial   Floating   Investors   NYSE   Preferred   Rate   Series   Seven   Special   Stock   Thursday   afterLeftLabels   approximately   average   category   chart   chartBackgroundColor   clientId   common   dividend   dividends   escape   fillColor   flat   history   keep   leftLabelsEvery   makes   missed   movingAverages   open   other   percentage   period   preferred   prior   recent   shares   that   trade   trading   versus   what   which   yield

Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 Goes Ex-Dividend Soon | www.PreferredStockChannel.com | Copyright © 2011 - 2017, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.