Bank of America Trust Originated Preferred Securities About To Put More Money In Your Pocket

On 9/25/13, Bank of America Corp.'s 7% Trust Originated Preferred Securities (NYSE: MER.PRD) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 9/30/13. As a percentage of MER.PRD's recent share price of $25.38, this dividend works out to approximately 1.72%, so look for shares of MER.PRD to trade 1.72% lower -- all else being equal -- when MER.PRD shares open for trading on 9/25/13. On an annualized basis, the current yield is approximately 6.91%, which compares to an ave...