On 7/31/13, JPMorgan Chase & Co.'s 5.45% Non-Cumulative Preferred Stock, Series P (NYSE: JPM.PRA) will trade ex-dividend, for its quarterly dividend of $0.3406, payable on 9/1/13. As a percentage of JPM.PRA's recent share price of $23.43, this dividend works out to approximately 1.45%, so look for shares of JPM.PRA to trade 1.45% lower — all else being equal — when JPM.PRA shares open for trading on 7/31/13. On an annualized basis, the current yield is approximately 5.81%, which compares to an average yield of 5.27% in the "Financial" preferred stock category, according to Preferred Stock Channel.
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