The board of directors of Banco Santander has resolved to call a general shareholders’ meeting to be held on 26 October 2020 on first call, or 27 October 2020 on second call.
As the Bank announced in July, the board is asking shareholders to approve a fully-paid capital increase to enable the payment of a dividend this year for 2019, to be paid in new shares equivalent to €0.10 per share. As a result, the equivalent total payment corresponding to 2019 would be equivalent to €0.20 per share.
Furthermore, the board is also asking shareholders to approve a cash payment for 2020 of €0.10 per share, to be paid in 2021, with a resulting charge to share premium reserves. The payment of this fixed amount is conditional upon its compliance with relevant European Central Bank (ECB) guidance at the time, as well as ECB approval. It is also conditional upon the Group’s CET1 ratio remaining within or above its target range of 11-12% after distribution, and the total amount to be paid not exceeding 50% of the Bank’s 2020 consolidated ordinary (underlying) profit.