On 2/4/14, Banco Santander SA's 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities (SAN.PRA) will trade ex-dividend, for its quarterly dividend of $0.425, payable on 2/21/14. As a percentage of SAN.PRA's recent share price of $24.94, this dividend works out to approximately 1.70%, so look for shares of SAN.PRA to trade 1.70% lower — all else being equal — when SAN.PRA shares open for trading on 2/4/14. On an annualized basis, the current yield is approximately 6.82%, which compares to an average yield of 5.81% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Reminder: Banco Santander SA's 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities Goes Ex-Dividend Soon
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