Cash Dividend On The Way From Bank of America's Trust Preferred Securities

On 9/11/13, Bank of America Corp.'s Trust Preferred Securities (NYSE: MER.PRK) will trade ex-dividend, for its quarterly dividend of $0.4031, payable on 9/16/13. As a percentage of MER.PRK's recent share price of $24.95, this dividend works out to approximately 1.62%, so look for shares of MER.PRK to trade 1.62% lower ? all else being equal ? when MER.PRK shares open for trading on 9/11/13. On an annualized basis, the current yield is approximately 6.48%, which compares to an average yield of 5....