Banco Santander SA (SAN)

[Huggy Bear]

I can only speculate but what seems plausible is the newly fired up FUD over the future of Greece.

SAN does hold some Greek debt, but it was not a high percentage last I checked.

Looks like the shares in lieu of cash dividend policy remains in effect, and that the current ratio is one new ADR for each 44 already owned.

They do not round up though.