Using today’s closing price, this dividend if approved by shareholders, is equivalent to a dividend yield of 7.3%.
SANTIAGO, Chile — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) informs that in the Board session held today, the Board of Directors agreed to summon an Ordinary Shareholders’ Meeting, to be held remotely on Wednesday, April 19, 2023. Among other items to be submitted for approval to shareholders, the Board is proposing a dividend of Ch$2.57469221 per share, corresponding to 60% of net income attributable to shareholders. Likewise, the remaining 40% of net income attributable to shareholders will be destined to increase the Bank’s reserves and/or accumulated profits of the Bank.
Banco Santander Chile is the largest bank in the Chilean market in terms of loans and assets. As of December 31, 2022, the Bank had total assets of US$ 79.7 billion, loans net of provisions of US$ 37.7 billion, deposits of US$ 27.1 billion, and total equity of US$ 4.8 billion. The BIS capital ratio as of December 31, 2022 was 17.45%, with a core capital ratio of 11.1%. Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA.