[Pete]

Hey guys

First, I have to let you know that I'm a newbie when it comes to trading.

Now. I was just researching a few stocks to acquire and stumbled upon these news

http://www.marketwatch.com/story/bank-of..._news_stmp

It states that the dividend pay will be of $18.125 per share and payable to to shareholders of record as of July 1, 2011.

Does that mean that I can buy 2 shares of BAC this monday (which are trading at about $11) for approx. $22, hold them until july and get $36.25 on dividends?

Or is there something I'm not seeing?

Thanks for the help, and sorry if this is a stupid or obvious question.

[RobbieRobNJ]

(06-18-2011 08:53 PM)Pete Wrote:  

Hey guys

First, I have to let you know that I'm a newbie when it comes to trading.

Now. I was just researching a few stocks to acquire and stumbled upon these news

http://www.marketwatch.com/story/bank-of..._news_stmp

It states that the dividend pay will be of $18.125 per share and payable to to shareholders of record as of July 1, 2011.

Does that mean that I can buy 2 shares of BAC this monday (which are trading at about $11) for approx. $22, hold them until july and get $36.25 on dividends?

Or is there something I'm not seeing?

Thanks for the help, and sorry if this is a stupid or obvious question.

What you are missing is those are preferred shares The l series shares not the common shares that sell at 10.50 .

The second thing i noticed is you have to hold these shares on or before july 1st and the dividend will be paid on august 1st .

BAC -PL is the symbol the shares are valued at 1000 dollars per share and do pay a dividend of 72.50 per year or 18 something per quarter .

If you want to read more here is a link

http://seekingalpha.com/article/91708-in...red-shares

[Pete]

(06-18-2011 10:30 PM)RobbieRobNJ Wrote:  

(06-18-2011 08:53 PM)Pete Wrote:  

Hey guys

First, I have to let you know that I'm a newbie when it comes to trading.

Now. I was just researching a few stocks to acquire and stumbled upon these news

http://www.marketwatch.com/story/bank-of..._news_stmp

It states that the dividend pay will be of $18.125 per share and payable to to shareholders of record as of July 1, 2011.

Does that mean that I can buy 2 shares of BAC this monday (which are trading at about $11) for approx. $22, hold them until july and get $36.25 on dividends?

Or is there something I'm not seeing?

Thanks for the help, and sorry if this is a stupid or obvious question.

What you are missing is those are preferred shares The l series shares not the common shares that sell at 10.50 .

The second thing i noticed is you have to hold these shares on or before july 1st and the dividend will be paid on august 1st .

BAC -PL is the symbol the shares are valued at 1000 dollars per share and do pay a dividend of 72.50 per year or 18 something per quarter .

If you want to read more here is a link

http://seekingalpha.com/article/91708-in...red-shares

Thank you very much

you seem to know about finance.
Would you recommend me a broker with low or no minimum deposit? I only want to invest $100-200 just to see what happens or if I like it, nothing serious.

[RobbieRobNJ]

(06-19-2011 01:18 PM)Pete Wrote:  

(06-18-2011 10:30 PM)RobbieRobNJ Wrote:  

(06-18-2011 08:53 PM)Pete Wrote:  

Hey guys

First, I have to let you know that I'm a newbie when it comes to trading.

Now. I was just researching a few stocks to acquire and stumbled upon these news

http://www.marketwatch.com/story/bank-of..._news_stmp

It states that the dividend pay will be of $18.125 per share and payable to to shareholders of record as of July 1, 2011.

Does that mean that I can buy 2 shares of BAC this monday (which are trading at about $11) for approx. $22, hold them until july and get $36.25 on dividends?

Or is there something I'm not seeing?

Thanks for the help, and sorry if this is a stupid or obvious question.

What you are missing is those are preferred shares The l series shares not the common shares that sell at 10.50 .

The second thing i noticed is you have to hold these shares on or before july 1st and the dividend will be paid on august 1st .

BAC -PL is the symbol the shares are valued at 1000 dollars per share and do pay a dividend of 72.50 per year or 18 something per quarter .

If you want to read more here is a link

http://seekingalpha.com/article/91708-in...red-shares

Thank you very much

you seem to know about finance.
Would you recommend me a broker with low or no minimum deposit? I only want to invest $100-200 just to see what happens or if I like it, nothing serious.

I know scottrade and etrade have minimums of at least 500
i think options xpress or zecco may have no minimum

Goodluck have any questions ask away
rob

[baabaablacksheep]

Hey. I lurk around these forums a lot, so here's the first post.

Remember that you have to pay commission for each trade, so if you're trading with such a low amount, you may lose money unless your stock jumps significantly. Scottrade is on the low end with $7, but I think if you get a referral, you get three free trades (but they expire. I forget when... it's a month or so.). I think TradeKing has a minimum balance of $100 with $5 trades, but look around. There are a couple others with free trades when you sign up, but I think you need a minimum balance bigger than that.