On 2/27/13, Zions Bancorporation‘s 9.50% Series C Non-Cumulative Perpetual Preferred Stock (NYSE: ZB.PRC) will trade ex-dividend, for its quarterly dividend of $0.5938, payable on 3/15/13. As a percentage of ZB.PRC‘s recent share price of $26.39, this dividend works out to approximately 2.25%, so look for shares of ZB.PRC to trade 2.25% lower ? all else being equal ? when ZB.PRC shares open for trading on 2/27/13. On an annualized basis, the current yield is approximately 9.02%, which compares to an average yield of 5.53% in the “Financial” preferred stock category, according to Preferred Stock Channel.
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Source: FULL ARTICLE at Forbes Markets
