TCF Financial Series B Non-Cumulative Perpetual Preferred Stock Goes Ex-Dividend Soon

On 8/13/13, TCF Financial Corp.'s 6.45% Series B Non-Cumulative Perpetual Preferred Stock (NYSE: TCB.PRC) will trade ex-dividend, for its quarterly dividend of $0.4031, payable on 9/3/13. As a percentage of TCB.PRC's recent share price of $24.00, this dividend works out to approximately 1.68%, so look for shares of TCB.PRC to trade 1.68% lower -- all else being equal -- when TCB.PRC shares open for trading on 8/13/13. On an annualized basis, the current yield is approximately 6.67%, which compar...