Banco Santander modifies the date for the Annual Shareholder’s Meeting and adjusts dividend payment to have more resources ...
March 23 2020 - 4:48PM
The Board of Directors of Santander Chile, in its extraordinary
session held today, proposed to reschedule the Annual Shareholder’s
Meeting for Thursday, April 30, and propose a new dividend
distribution proposal in order to multiply its capacity to support
clients during the Coronavirus crisis contingency.
The President of the Board of Directors of
Santander Chile, Claudio Melandri, explained that with this
decision, and taking into account the economic contingency derived
from Covid-19 pandemic, the Board decided to see what mechanisms
were available to supports its clients. “All of the analysis on a
global scale agree that the present situation requires renewed
efforts from everyone involved so individuals, SMEs and companies
in general, can count with the necessary support to ensure the
continuity of their activities; and in Santander Chile that is what
we have decided to do.”
According to the new notice of the Shareholder’s
Meeting, shareholders that were originally convened for April 21
will now be meeting on Thursday April 30, where they will have to
vote, among other issues, the new dividend proposal, which
contemplates: payout 30% of 2019 net income attributable to
shareholders equivalent to Ch$0.87891310 per share; another 30% of
2019 net income destined to retained earning and the remaining 40%
of net income will be destined to the Bank’s reserves. The Board
recognizes Santander Chile’s solid capital levels and good credit
risk management, but as a measure of prudence has decided to
temporarily reduce payout until there is greater clarity regarding
the evolution of global and local events and as a mechanism to
maintain credit growth to clients.
Banco Santander Chile is the largest Bank in
Chile in terms of assets, loans and equity. As of December 31,
2019, we had total assets of Ch$50,578,246 million (U.S.$67,675
million), outstanding loans net of allowances for loan losses of
Ch$31,823,735 million (U.S.$42,581 million), total deposits of
Ch$23,490,249 million (U.S.$ 31,431 million) and equity of
Ch$3,470,317 million (U.S.$4,643 million). As of December 31,
2019, we employed 11,200 people and had a large private branch
network in Chile, with 377 branches. Our headquarters are
located in Santiago and we operate in every major region of Chile.
Our long-term credit risk rating were A1 by Moody's, A Fitch, A
Standard & Poor's, and A+ JCR.
CONTACT INFORMATIONRobert MorenoInvestor
RelationsBanco Santander ChileBandera 140, Floor 20Santiago,
Chile(562)
2320-8284Email: irelations@santander.cl Website: www.santander.cl
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