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In trading on Friday, shares of Bank of America Corp's 4.125% Depositary Shares Non-Cumul Preferred Stock Ser PP (Symbol: BAC.PRP) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.0312), with shares changing hands as low as $17.02 on the day. This compares to an average yield of 6.66% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRP was trading at a 30.84% discount to its liquidation preference amount, versus the average discount of 10.87% 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.

Below is a dividend history chart for BAC.PRP, showing historical dividend payments on Bank of America Corp's 4.125% Depositary Shares Non-Cumul Preferred Stock Ser PP:

In Friday trading, Bank of America Corp's 4.125% Depositary Shares Non-Cumul Preferred Stock Ser PP (Symbol: BAC.PRP) is currently down about 1.4% on the day, while the common shares (Symbol: BAC) are down about 7.7%.

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