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Banco Santander Says Board Intends To Set Pay-out Ratio Of 40-50% In Mid-term

(RTTNews) - Banco Santander, S.A., (BNC.L, BSBR, SAN) announced Wednesday that its board of directors is proposing a resolution to the 2019 AGM authorizing the acquisition of shares to be held in treasury with the express possibility of executing share repurchases to reduce the number of shares in issue.

At its meeting, the board has decided to propose to shareholders to retain the option to use a scrip dividend.

The board resolved to call shareholders to the next ordinary general shareholders' meeting to be held in Santander on April 11, or on April 12.

The company said its board will announce the 2019 Interim Dividend after the September Board of Directors meeting. It is the board's intention to set a pay-out ratio of 40-50% in the mid-term, increasing it from the current pay-out ratio of 30-40%; that the proportion of dividend paid in cash is not lower than that of the last year; and, as was announced in the general shareholders' meeting of 2018, to make two payments against the results of 2019.

The board has also resolved to propose to the shareholders' meeting the appointment of Henrique de Castro as new independent director to fill the vacancy left by Juan Miguel Villar Mir on 1 January 2019.
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