Santander will save 1.6 billions due to cancellation of final 2019 dividend

FAN Editor 4 years ago
A branch of the Santander bank is seen at Vina del Mar
FILE PHOTO: A branch of the Santander bank is seen at Vina del Mar, Chile August 9, 2019 Picture taken August 9, 2019. REUTERS/Rodrigo Garrido

April 3, 2020

MADRID (Reuters) – Santander’s <SAN.MC> executive chairman Ana Botin on Friday said that the bank’s cancellation of its final 2019 dividend would save the bank an additional 1.6 billion euros ($1.7 billion) in capital.

On Thursday, the lender canceled the payment of a final 0.13 euros per share dividend against its 2019 earnings to save the money to boost capital defences against the impact of the coronavirus outbreak.

Botin also said it was “now the time for Europe to rise to the occasion and lead a faster and more coordinated response” to the coronavirus.

(Reporting By Jesús Aguado; editing by Emma Pinedo)

Free America Network Articles

Leave a Reply

Next Post

China pursues global leadership ambitions as it offers aid during the coronavirus crisis

Fri Apr 3 , 2020
Beijing is bolstering its soft power and taking the lead in a global response to the coronavirus public health crisis. The moves come as China’s daily number of new infections decline while those in the U.S. rise. In the last few weeks, Chinese President Xi Jinping has been busy calling leaders across […]

You May Like