Banco Santander Non-Cumulative Guaranteed Series 1 Preferred Securities About To Put More Money In Your Pocket

On 5/13/13, Banco Santander SA's 6.41% Non-Cumulative Guaranteed Series 1 Preferred Securities (NYSE: SAN.PRI) will trade ex-dividend, for its quarterly dividend of $0.4006, payable on 6/11/13. As a percentage of SAN.PRI's recent share price of $25.37, this dividend works out to approximately 1.58%, so look for shares of SAN.PRI to trade 1.58% lower -- all else being equal -- when SAN.PRI shares open for trading on 5/13/13. On an annualized basis, the current yield is approximately 6.31%, which ...