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Banco Santander's Series 5 Preferred Shares Cross 6.5% Yield Mark


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In trading on Thursday, shares of Banco Santander SA (Spain)'s 6.50% Non-Cumulative Series 5 Guaranteed Preferred Securities (Symbol: SAN.PRC) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.6248), with shares changing hands as low as $24.99 on the day. This compares to an average yield of 5.76% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, SAN.PRC was trading at a 1.92% premium to its liquidation preference amount, versus the average premium of 4.33% 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.

The chart below shows the one year performance of SAN.PRC shares, versus SAN:

Performance Comparison Chart

Below is a dividend history chart for SAN.PRC, showing historical dividend payments on Banco Santander SA (Spain)'s 6.50% Non-Cumulative Series 5 Guaranteed Preferred Securities:

SAN.PRC+Dividend+History+Chart

In Thursday trading, Banco Santander SA (Spain)'s 6.50% Non-Cumulative Series 5 Guaranteed Preferred Securities (Symbol: SAN.PRC) is currently down about 0.2% on the day, while the common shares (Symbol: SAN) are up about 0.5%.

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
Referenced Symbols: SAN



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