Santander Holdings USA, Inc. — Form 8-K
Filed August 27, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Santander Holdings USA amended its Articles of Incorporation effective August 27, 2026 to authorize up to 500,000 shares of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J, with a stated amount of $1,000 per share. The series carries an initial dividend rate of 7.271% annually through December 21, 2031, then resets every five years to the Five-year U.S. Treasury Rate plus 2.979%. The stock is redeemable at the Corporation's option on and after December 21, 2031, ranks pari passu with existing preferred series (E–I), and carries limited voting rights tied to dividend non-payment.
Why this rating
Preferred stock issuance is routine capital management. Maximum capital raise = 500,000 shares × $1,000 = $500M, which is ~0.3% of $164.5B in assets. No announcement of actual issuance quantity. Dilution and governance changes are modest relative to company scale.
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