By Olivia Bugault

 

Banco Santander SA said late Thursday that it is scrapping its final dividend for 2019 after the European Central Bank asked banks not to pay dividends until October.

The Spanish bank is also canceling its dividend policy for 2020 "until there is more visibility of the effects of the Covid-19 crisis and the 2020 results are known," it said.

Santander paid an interim dividend of 10 European cents ($0.11) a share in November and was supposed to pay a final dividend of EUR0.13 a share against its 2019 earnings.

Santander had already scrapped its interim dividend for 2020 due to the coronavirus pandemic.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

April 03, 2020 01:37 ET (05:37 GMT)

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