Alcoa Preferred Stock About To Put More Money In Your Pocket

On 9/11/13, Alcoa, Inc.'s $3.75 Preferred Stock (AMEX: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 10/1/13. As a percentage of AA.PR's recent share price of $81.40, this dividend works out to approximately 1.15%, so look for shares of AA.PR to trade 1.15% lower ? all else being equal ? when AA.PR shares open for trading on 9/11/13. On an annualized basis, the current yield is approximately 4.62%, which compares to an average yield of 16.65% in the "Metals & M...