Santander Fulfills Its Commitment To Shareholders And Raises Cash Dividend By 3%

Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%In April, Santander's Board decided to cancel payment of the final dividend for 2019 and the dividend policy for 2020

The total dividend charged to the year 2019 will be 0.23 euros, of which 0.20 will be paid in cash and the rest through the scrip dividend program called ‘Santander dividend election’.

The board of directors of Banco Santander has decided to increase the cash dividend corresponding to last year and propose to the next general meeting of shareholders the payment of a second dividend of 0.13 euros per share. As the bank explained recently during the presentation of 2019 results, of this amount 0.10 euros will be in cash and the remaining 0.03 euros will be paid through the ‘Santander Dividend Election’ program, which allows investors decide whether to receive payment in cash or in stocks.

Last November, the entity paid a first interim dividend of 0.10 euros per share in cash. Pending the approval of the shareholders meeting, remuneration in cash will be 0.20 euros, 3% higher than the previous year. Payout for 2019 will thus be 46.3%, within the target range between 40-50% announced at the beginning of 2019, while the proportion of cash dividend will amount to 89.6%.