Bank of America's Non-Cumulative Preferred Stock, Series 3 About To Put More Money In Your Pocket

On 5/13/13, Bank of America Corp.'s 6.375% Non-Cumulative Preferred Stock, Series 3 (NYSE: BML.PRI) will trade ex-dividend, for its quarterly dividend of $0.3984, payable on 5/28/13. As a percentage of BML.PRI's recent share price of $25.80, this dividend works out to approximately 1.54%, so look for shares of BML.PRI to trade 1.54% lower -- all else being equal -- when BML.PRI shares open for trading on 5/13/13. On an annualized basis, the current yield is approximately 6.16%, which compares to...