On 8/1/13, Citigroup Inc's 8.125% Non-Cumulative Preferred Stock, Series AA (NYSE: C.PRP) will trade ex-dividend, for its quarterly dividend of $0.5078, payable on 8/15/13. As a percentage of C.PRP's recent share price of $29.71, this dividend works out to approximately 1.71%, so look for shares of C.PRP to trade 1.71% lower — all else being equal — when C.PRP shares open for trading on 8/1/13. On an annualized basis, the current yield is approximately 6.83%, which compares to an average yield of 5.35% in the "Financial" preferred stock category, according to Preferred Stock Channel.
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