Cash Dividend On The Way From Banco Santander SA's Series C Non-Cumulative Perpetual Preferred Stock

On 7/30/13, Banco Santander SA's Series C Non-Cumulative Perpetual Preferred Stock (NYSE: SOV.PRC) will trade ex-dividend, for its quarterly dividend of $0.4562, payable on 8/15/13. As a percentage of SOV.PRC's recent share price of $25.89, this dividend works out to approximately 1.76%, so look for shares of SOV.PRC to trade 1.76% lower -- all else being equal -- when SOV.PRC shares open for trading on 7/30/13. On an annualized basis, the current yield is approximately 7.05%, which compares to ...