Banco Santander SA's Non-Cumulative Series 4 Guaranteed Preferred Securities About To Put More Money In Your Pocket

On 8/5/13, Banco Santander SA's 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities (NYSE: SAN.PRA) will trade ex-dividend, for its quarterly dividend of $0.425, payable on 8/21/13. As a percentage of SAN.PRA's recent share price of $25.36, this dividend works out to approximately 1.68%, so look for shares of SAN.PRA to trade 1.68% lower -- all else being equal -- when SAN.PRA shares open for trading on 8/5/13. On an annualized basis, the current yield is approximately 6.70%, which com...