- Information for Shareholders and Investors
Santander will once again offer its ADR holders the chance to receive the remuneration equivalent to the upcoming November dividend in cash or newly issued Santander ADRs.
In 2009, Santander for the first time offered its ADR holders the possibility to decide how they preferred to receive the remuneration equivalent to the quarterly November dividend. Based on the popularity of the new structure the Board of Directors proposed at Santander’s 2010 Annual Shareholders Meeting to continue to offer the scrip program and to once again give shareholders the opportunity to choose how they would like to receive the remuneration equivalent to their upcoming November dividend: cash, newly issued shares or sell their rights in the market.
Santander’s flexible scrip program enables ADR holders to choose a payment alternative that best fits their respective investment goals. Shortly before the usual November dividend payment date, Santander will issue one right for every share of Santander outstanding. The value of each right will be the equivalent to the amount of the November dividend. ADR Holders will be able to instruct, as applicable, their broker or J.P. Morgan, as depositary of Santander’s ADR program, to convert the rights according to three options:
- Continue to receive a cash dividend. (Spanish tax withheld at a rate of 19 %.)
- Receive new ADRs. (No Spanish tax withheld.)
- Sell rights in the market. (No Spanish tax withheld.)
For questions about the scrip program please contact our information agent D.F. King & Co. Inc., at 1.800.735.3107.
Read on for more information regarding your choices
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