On 1/14/14, Banco Santander SA's 6.50% Non-Cumulative Series 5 Guaranteed Preferred Securities (SAN.PRC) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 1/31/14. As a percentage of SAN.PRC's recent share price of $24.85, this dividend works out to approximately 1.63%, so look for shares of SAN.PRC to trade 1.63% lower — all else being equal — when SAN.PRC shares open for trading on 1/14/14. On an annualized basis, the current yield is approximately 6.56%, which compares to an average yield of 5.90% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Cash Dividend On The Way From Banco Santander SA's Non-Cumulative Series 5 Guaranteed Preferred Securities
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