I believe we have a way to go before SAN will move higher. They still have not gotten exact orders from the EU financial committee what they have to do when they "actualize" their loans loses. Undoubtedly the bank will have to raise a lot more $ to compensate, hence all these offerings. There is a real possibility that SAN will cut the dividend, I mean it makes sense. If that happens the PPS drops and time to buy, assuming the EU economy and Spain are altogether. A much bigger speculation is NBG---but only for the brave. Luck to all
80% of SAN's dividend is paid in newly issued stock. Why would a dividend cut be necessary? SAN is a small holding of mine, and I don't claim to be an expert on the company, but risk/reward seems to be good here. NBG, not so much.