Cash Dividend On The Way From Southern Company's Preferred Stock

On 9/11/13, Southern Company's 5.25% Series Preferred Stock (NYSE: MP.PRD) will trade ex-dividend, for its quarterly dividend of $0.3281, payable on 10/1/13. As a percentage of MP.PRD's recent share price of $25.01, this dividend works out to approximately 1.31%, so look for shares of MP.PRD to trade 1.31% lower ? all else being equal ? when MP.PRD shares open for trading on 9/11/13. On an annualized basis, the current yield is approximately 5.25%, which compares to an average yield of 5.32% in ...