Banco Santander Series C Non-Cumulative Perpetual Preferred Stock About To Put More Money In Your Pocket

On 10/30/13, 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 11/15/13. As a percentage of SOV.PRC's recent share price of $25.75, this dividend works out to approximately 1.77%, so look for shares of SOV.PRC to trade 1.77% lower -- all else being equal -- when SOV.PRC shares open for trading on 10/30/13. On an annualized basis, the current yield is approximately 7.09%, which compares ...