Cash Dividend On The Way From Vornado Realty Trust's Series L Cumulative Redeemable Preferred Shares

On 9/12/13, Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (NYSE: VNO.PRL) will trade ex-dividend, for its quarterly dividend of $0.3375, payable on 10/1/13. As a percentage of VNO.PRL's recent share price of $20.62, this dividend works out to approximately 1.64%, so look for shares of VNO.PRL to trade 1.64% lower -- all else being equal -- when VNO.PRL shares open for trading on 9/12/13. On an annualized basis, the current yield is approximately 6.56%, which compar...