OFG Bancorp's Non-cumulative Monthly Income Preferred Stock About To Put More Money In Your Pocket

On 5/13/13, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (NYSE: OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 5/31/13. As a percentage of OFG.PRA's recent share price of $25.32, this dividend works out to approximately 0.59%, so look for shares of OFG.PRA to trade 0.59% lower -- all else being equal -- when OFG.PRA shares open for trading on 5/13/13. On an annualized basis, the current yield is approximately 6.99%, which compares...