On 2/13/13, Banco Santander SA’s Floating Rate Non-Cumulative Series 6 Guaranteed Preferred Securities (NYSE: SAN.PRB) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 3/5/13. As a percentage of SAN.PRB‘s recent share price of $20.72, this dividend works out to approximately 1.21%, so look for shares of SAN.PRB to trade 1.21% lower ? all else being equal ? when SAN.PRB shares open for trading on 2/13/13. On an annualized basis, the current yield is approximately 4.96%, which compares to an average yield of 5.55% in the “Financial” preferred stock category, according to Preferred Stock Channel.
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Source: FULL ARTICLE at Forbes Markets