SAN

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

Credit: REUTERS/Edgard Garrido

MADRID, April 3 (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.

($1 = 0.9258 euros)

(Reporting By Jesús Aguado; editing by Emma Pinedo)

((jesus.aguado@thomsonreuters.com; +34 91 585 8339; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.