On 6/12/14, 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 6/30/14. As a percentage of SAN.PRE's recent share price of $26.28, this dividend works out to approximately 2.50%, so look for shares of SAN.PRE to trade 2.50% lower — all else being equal — when SAN.PRE shares open for trading on 6/12/14. On an annualized basis, the current yield is approximately 9.97%, which compares to an average yield of 6.24% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel.
Banco Santander Non-Cumulative Guaranteed Series 10 Preferred Securities Ex-Dividend Reminder
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