DIVIDENDS

TOTAL SHAREHOLDER REMUNERATION CHARGED TO 2018 INCOME

23 euro cents/share

Three of the four dividends charged to 2018 income have been paid. There have been two cash dividends of 6.5 euro cents per share each, and one dividend under the Santander Scrip Dividend programme of 3.5 euro cents per share.

The fourth and final dividend charged to 2018 income is due to be paid in cash in May 2019, and will be equivalent to 6.5 euro cents per share.

This means an annual increase of 4.5% on the total dividend and 9% on the cash dividend.

The total dividend yield taking the average share price for 2018 was

4.75%
TOTAL SHAREHOLDER REMUNERATION CHARGED TO 2019 INCOME

Targeted pay-out
40-50%

2 payments

Expected announcement
of the interim dividend
in September 2019

In order to align us with the current comparable practices in Europe, the board's target is:

  • To maintain in the medium term a pay-out ratio of 40%-50%, up from the current 30%-40%.        
  • As announced at the 2018 annual general meeting, make two payments charged to 2019’s earnings.
  • The board expects to announce the interim 2019 dividend after its meeting in September.