Santander: to restore dividend policy
(CercleFinance.com) - At its AGM, Santander said that its board of directors intends to restore a policy of remunerating shareholders at between 40% and 50% of the group's underlying earnings.
For this reason, over the year the bank is accumulating the proportional amount of capital necessary to execute this policy once the supervisors allow it, the Spanish financial institution said.
Adding that its business remained strong in the first quarter of 2021, with revenues in line with the fourth quarter of 2020, Santander now expects an underlying return on tangible equity (RoTE) of around 10% by the end of 2021.
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For this reason, over the year the bank is accumulating the proportional amount of capital necessary to execute this policy once the supervisors allow it, the Spanish financial institution said.
Adding that its business remained strong in the first quarter of 2021, with revenues in line with the fourth quarter of 2020, Santander now expects an underlying return on tangible equity (RoTE) of around 10% by the end of 2021.
Copyright (c) 2021 CercleFinance.com. All rights reserved.