After booking a big impairment charge, Banco Santander (SAN) trended back towards the $4.00 level. The unexpected $557 million looks like a setback for investors but do not forget that the stock trades ex-dividend today. That would explain the EUR 0.10 (or US$0.10) drop. And while the true yield falls from 6.81% to around 5% after including non-resident taxes, investors seeking financial stocks outside of the U.S. should consider Banco Santander.
Q3 Results
Santander continued to grow its digital customer base while its underlying business improved. Attributable profit of EUR 501 million