Just noticed BAC.PRM, Bank of America's Series KK preferred stock, broke through that 6% yield mark recently. The quarterly dividend works out to about $1.34 annualized, which is pretty solid compared to where most financial sector preferreds are sitting around 6.5% average. Shares were trading down to $22.37 at one point, which is interesting given how the broader market's been moving. One thing to keep in mind with the Series KK shares though - they're non-cumulative, so if Bank of America ever skips a dividend payment, they don't owe you the back payments before they resume paying common dividends. That's a meaningful difference from cumulative preferreds. Right now BAC.PRM is trading at about a 9.7% discount to its liquidation preference value, which is actually slightly better than the average 10.5% discount you're seeing across financial preferred stocks. The common shares (BAC) were down around 2.8% in that same session, while the Series KK preferred only dropped about 0.6%, so there's usually less volatility in these preferred issues. If you're hunting for yield in the financial sector, worth keeping an eye on how these KK shares behave relative to the broader preferred market.