Santander Bank Polska SA
al. Jana Pawla II 17
Phone: +48 713701000p:+48 713701000 WARSZAWA, 00-854  Poland Ticker: SPLSPL

This company was Merged or Acquired on 3/29/2011.
This is a Subsidiary, click here for the Parent Company

Santander BP lender told by regulator to forgo dividend payouts from 2019 and prior years

Santander met the basic KNF criteria for paying out up to 100% of 2020 earnings in dividend, but "[a]fter applying additional criteria. . . related to a portfolio of FX housing loans for households held by the bank, the dividend payout ratio was adjusted by 70 pps in total," the filing read.

As a result, "the maximum dividend payout ratio upon application of additional criteria may settle at up to 30% of the profit made in 2020," the bank said.

Santander BP was at the same time recommended not to take any actions which could result in reduction of its capital base, including payouts from 2019 earnings and previous years, without prior consultations with the regulator, as well as to abstain from buybacks.

Back in March, Santander BP shareholders approved putting PLN 369.2 mln from the 2020 profit (50% of the total) to reserve capital for dividends.

Management earlier did not rule out an advance dividend in H2 2021, but said it would depend on financial market regulator KNF's stance on dividends in that period.

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Saturday, July 31, 2021