By DividendChannel.com

In trading on Monday, shares of Oriental Financial Group, Inc.’s 7.0% Noncumulative Monthly Income Preferred Stock, Series B (NYSE: OFG.PRB) were yielding above the 7% mark based on its monthly dividend (annualized to $1.75), with shares changing hands as low as $24.99 on the day. This compares to an average yield of 5.48% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, OFG.PRB was trading at a 1.36% premium to its liquidation preference amount, versus the average premium of 3.66% in the “Financial” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com » …read more
Source: FULL ARTICLE at Forbes Markets

By DividendChannel.com

On 3/13/13, Oriental Financial Group, Inc.’s 7.0% Noncumulative Monthly Income Preferred Stock, Series B (NYSE: OFG.PRB) will trade ex-dividend, for its monthly dividend of $0.1458, payable on 4/1/13. As a percentage of OFG.PRB‘s recent share price of $25.01, this dividend works out to approximately 0.58%, so look for shares of OFG.PRB to trade 0.58% lower ? all else being equal ? when OFG.PRB shares open for trading on 3/13/13. On an annualized basis, the current yield is approximately 6.91%, which compares to an average yield of 5.48% in the “Financial” preferred stock category, according to Preferred Stock Channel.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen » …read more
Source: FULL ARTICLE at Forbes Markets