Bank of America's Floating Rate Non-Cumulative Preferred Stock, Series 4 Goes Ex-Dividend Soon

On 5/13/13, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 4 (NYSE: BML.PRJ) will trade ex-dividend, for its quarterly dividend of $0.2472, payable on 5/28/13. As a percentage of BML.PRJ's recent share price of $24.80, this dividend works out to approximately 1.00%, so look for shares of BML.PRJ to trade 1.00% lower -- all else being equal -- when BML.PRJ shares open for trading on 5/13/13. On an annualized basis, the current yield is approximately 3.96%, which comp...