Bank of America Preferred Stock Series 4 Hits 6% Yield Mark

Bank of America's Floating Rate Non-Cumulative Preferred Stock, Series 4 (BML.PRJ) shares are trading at a 6% yield, with a 16.96% discount to its liquidation preference amount. The stock is currently down 0.6% while the common shares are off 1.1%. The quarterly dividend is $1.2277, annualized to $4.911.