On 3/13/14, Banco Santander SA's 10.5% Non-Cumulative Guaranteed Series 10 Preferred Securities (SAN.PRE) will trade ex-dividend, for its quarterly dividend of $0.6562, payable on 3/31/14. As a percentage of SAN.PRE's recent share price of $26.76, this dividend works out to approximately 2.45%, so look for shares of SAN.PRE to trade 2.45% lower — all else being equal — when SAN.PRE shares open for trading on 3/13/14. On an annualized basis, the current yield is approximately 9.80%, which compares to an average yield of 5.77% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Ex-Div Reminder for Banco Santander SA's 10.5% Non-Cumulative Guaranteed Series 10 Preferred Securities
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