On 5/19/14, Banco Santander SA's Floating Rate Non-Cumulative Series 6 Guaranteed Preferred Securities (SAN.PRB) will trade ex-dividend, for its quarterly dividend of $0.26, payable on 6/5/14. As a percentage of SAN.PRB's recent share price of $20.77, this dividend works out to approximately 1.25%, so look for shares of SAN.PRB to trade 1.25% lower — all else being equal — when SAN.PRB shares open for trading on 5/19/14. On an annualized basis, the current yield is approximately 5.01%, which compares to an average yield of 6.22% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel.
Banco Santander Floating Rate Non-Cumulative Series 6 Guaranteed Preferred Securities About To Put More Money In Your Pocket
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