Banco Santander's Series 4 Preferred Securities Yield Pushes Past 6.5%


Shutterstock photo

In trading on Monday, shares of Banco Santander SA (Spain)’s 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities (Symbol: SAN.PRA) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.70), with shares changing hands as low as $25.68 on the day. This compares to an average yield of 5.61% in the “Financial” preferred stock category, according to Preferred Stock Channel . As of last close, SAN.PRA was trading at a 6.00% premium to its liquidation preference amount, versus the average premium of 4.77% 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.PRA shares, versus SAN: Performance Comparison Chart

Below is a dividend history chart for SAN.PRA, showing historical dividend payments on Banco Santander SA (Spain)’s 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities: SAN.PRA+Dividend+History+Chart In Monday trading, Banco Santander SA (Spain)’s 6.80% Non-Cumulative Series 4 Guaranteed Preferred Securities (Symbol: SAN.PRA) is currently off about 3.1% on the day, while the common shares (Symbol: SAN) are down about 1.3%.

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


No Comments

Post A Comment