On 5/13/14, Banco Santander SA's 6.41% Non-Cumulative Guaranteed Series 1 Preferred Securities (SAN.PRI) will trade ex-dividend, for its quarterly dividend of $0.4006, payable on 6/11/14. As a percentage of SAN.PRI's recent share price of $25.26, this dividend works out to approximately 1.59%, so look for shares of SAN.PRI to trade 1.59% lower — all else being equal — when SAN.PRI shares open for trading on 5/13/14. On an annualized basis, the current yield is approximately 6.33%, which compares to an average yield of 5.69% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Ex-Div Reminder for Banco Santander Non-Cumulative Guaranteed Series 1 Preferred Securities
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