Santander To Pay Special Dividend Of $0.22 Per Share
The board of Santander Consumer USA has declared a special dividend of $0.22 per share.
Santander (SC) said that along with a special dividend, the company’s board has decided to pay a quarterly cash dividend of $0.22 per share. The special and the regular dividend will be paid on March 31 to shareholders of record as of March 29.
The company’s annual dividend of $0.88 per share reflects a dividend yield of 3.29%.
Last month, the company reported EPS of $1.70 per share in 4Q, which came in ahead of the Street’s estimates of $1.11 per share. (See Santander Consumer stock analysis on TipRanks)
Following the results, Barclays analyst Mark Devries raised the stock’s price target to $26 (2.8% downside potential) from $23. He, however, maintained a Hold rating on the stock, as he finds other consumer lenders more attractive at current price levels.
Overall, the rest of the Street has a cautiously optimistic outlook on the stock, with a Moderate Buy consensus rating based on 3 Buys, 2 Holds and 1 Sell. The average analyst price target of $26.33 implies downside potential of about 1.6% to current levels. Shares have gained over 110% in one year.
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