On 9/24/13, Citigroup Capital XI 6.00% Capital Securities (NYSE: C.PRQ) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 9/27/13. As a percentage of C.PRQ's recent share price of $25.00, this dividend works out to approximately 1.50%, so look for shares of C.PRQ to trade 1.50% lower — all else being equal — when C.PRQ shares open for trading on 9/24/13. On an annualized basis, the current yield is approximately 6.00%, which compares to an average yield of 5.83% in the "Financial" preferred stock category, according to Preferred Stock Channel.
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