Bank of New York Mellon Corp's Series C Noncumulative Preferred Stock Goes Ex-Dividend Soon

On 9/3/13, Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock (NYSE: BK.PRC) will trade ex-dividend, for its quarterly dividend of $0.33, payable on 9/20/13. As a percentage of BK.PRC's recent share price of $21.38, this dividend works out to approximately 1.54%, so look for shares of BK.PRC to trade 1.54% lower -- all else being equal -- when BK.PRC shares open for trading on 9/3/13. On an annualized basis, the current yield is approximately 6.22%, which compares to...