Banco Santander Non-Cumulative Guaranteed Series 1 Preferred Securities Goes Ex-Dividend Soon

On 8/13/14, 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 9/11/14. As a percentage of SAN.PRI's recent share price of $25.26, this dividend works out to approximately 1.59%, so look for shares of SAN.PRI to trade 1.59% lower — all else being equal — when SAN.PRI shares open for trading on 8/13/14. On an annualized basis, the current yield is approximately 6.35%, whic...