By John Smith • 15 November 2020 • 11:37
IN order to allow itself to pay a dividend to shareholders, Banco Santander will be creating 722.5 million shares which will distributed as a rights issue on the basis of 1 new share for every 23 held.
This has a value (at market price) of €361.2 million and was approved by shareholders earlier this year after the 2019 dividend was cancelled at the behest of the European Central Bank (ECB).
Shareholders will expect to receive their new shares by December 11 although prior to that each shareholder may choose between receiving new Santander shares or selling their rights on the market.
Thank you for taking the time to read this news article “Santander Bank to issue new shares as dividend”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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