In trading on Monday, shares of Capital One Financial Corp's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B ( NYSE: COF.PRP ) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $23.01 on the day. This compares to an average yield of 5.66% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, COF.PRP was trading at a 7.44% discount to its liquidation preference amount, versus the average discount of 3.03% 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.