Banco Santander's Series C Preferred Stock Shares Cross 7% Yield Mark


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In trading on Tuesday, shares of Banco Santander SA's Series C Non-Cumulative Perpetual Preferred Stock (Symbol: SOV.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.825), with shares changing hands as low as $25.35 on the day. This compares to an average yield of 5.47% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, SOV.PRC was trading at a 5.24% premium to its liquidation preference amount, versus the average premium of 5.98% in the "Financial" category. Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

Performance Comparison Chart

Below is a dividend history chart for SOV.PRC, showing historical dividend payments on Banco Santander SA's Series C Non-Cumulative Perpetual Preferred Stock:

SOV.PRC+Dividend+History+Chart

In Tuesday trading, Banco Santander SA's Series C Non-Cumulative Perpetual Preferred Stock (Symbol: SOV.PRC) is currently down about 1.2% on the day, while the common shares (Symbol: SAN) are up about 2.2%.

Click here to find out the 50 highest yielding preferreds »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas
Referenced Symbols: SOV.PRC , SAN


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