Banco Santander Chile summons annual shareholders meeting and proposes a dividend of 60% of 2020 net income attributable to shareholders

Rhea-AI Summary

Banco Santander Chile announced a proposed dividend of Ch$1.64751729 per share, representing 60% of its net income attributable to shareholders, during an extraordinary Board meeting on March 30, 2021. If approved, this dividend will yield 3.6% based on the current share price. The remaining 40% of net income will be allocated to bolster the Bank's capital reserves. As of December 31, 2020, the bank held total assets of US$78.3 billion and a BIS capital ratio of 15.4%, reflecting its solid financial position in the Chilean market.

Positive

• Proposed dividend of Ch$1.64751729 per share, yielding 3.6%.
• 60% of net income allocated for dividends indicates strong company performance.
• Solid financial standing with total assets of US$78.3 billion.

Negative

• None.

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• Using today’s closing price this dividend, if approved by shareholders, is equivalent to a dividend yield of 3.6%.

SANTIAGO, Chile, March 30, 2021 (GLOBE NEWSWIRE) -- Banco Santander Chile informs that in an extraordinary session held today, the Board of Directors agreed to summon an Ordinary Shareholders' Meeting, to be held remotely on Thursday, April 29, 2021. Among other items to be submitted to approval to shareholders, the Board is proposing a dividend of Ch$1.64751729 per share, corresponding to 60% of net income attributable to shareholders. Likewise, the remaining 40% of net income attributable to shareholders will be destined to increase the Bank's capital reserves.

About Banco Santander Chile

Banco Santander Chile is the largest bank in the Chilean market in terms of loans and assets. As of December 31, 2020, the Bank had total assets of US$ 78.3 billion, loans net of provisions of US$ 46.9 billion, deposits of US$ 35.3 billion, and total equity of US$ 5.1 billion. The BIS capital ratio as of December 31, 2020 was 15.4%, with a core capital ratio of 10.7%. Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A1 rating from Moody's, A- from Standard and Poor's, and A+ from Japan Credit Rating Agency.

CONTACT INFORMATION
Robert Moreno
Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
(562) 2320-8284
Email: irelations@santander.cl 
Website: www.santander.cl