News / change log
- 2015/11/05. 84.79% as new shares. 118mi new shares (communicate - EN)
- 2015/10/17. Ratio: 1:103; Nov 6th: cash payment €0.05; Nov 13th: new shares (communicate - EN)
- 2015/08/03. Calendar for next (October) €0.05 dividend (communicate - EN)
as scrip. - 2015/07/01. First €0.05 dividend. All cash (communicate - EN)
ex-dividend on August 3rd - 2015/04/30. 83.77% as new shares, 256mi new shares (EN)
- 2015/04/10. Ratio 1:46. Cash value €0.151 (EN)
Next 4 dividends will be €0.05, with one in scrip form (October I think), and the 3 other in cash. - 2015/02/10. Calendar for April 2015 dividend (EN)
Ratio on April 10th, IBEX shares ex-div on April 14th, cash payment May 4th, new shares May 8th, around €0.15 (yes €0.15, this is the last dividend for FY 2014), after that we go for the 0.05) - 2015/01/29. 83.73% as new shares, 263mi new shares (EN)
One more €0.15 scrip dividend left in April - 2015/01/13. Ratio 1:44. Cash value €0.146 (EN)
One more €0.15 dividend left in April - 2015/01/04. Highest dividend from EU big companies is from... Santander (ES)
Sustained at €0.6 for 5 years, the year before was €0.65.
Personal opinion is that it is the best way to raise capital in adverse market mood.
Next major M&A (aka Abbey or ABN Amro) will be the referee - 2014/11/24. Limitation on cash dividend (maximum 25% of net earnings) to be suppressed in 2015 (ES)
- 2014/11/04. 86.48% as new shares. 225mi new shares (EN)
- 2014/10/28. Withholding tax on cash dividends to go down to 20% in 2015 and 19% in 2016 (from 21% currently) (ES)
- 2014/10/27. Calendar for January 2015 dividend (EN)
Ratio on January 12th, IBEX shares ex-div on Jan 14th, cash payment Feb 2nd, new shares Feb 6th, around €0.15 - 2014/10/21. Santander Brasil shareholders (who exchange their shares on Oct 30th) get the SAN October dividend (in the form of new shares), and this translates to a slightly higher exchange ratio: 0.7152 (instead of 0.7) (communicate - EN)
- 2014/10/16. Ratio 1:46. Cash value €0.151 (EN)
- 2014/09/08. Calendar for October 2014 dividend (EN)
Ratio on October 16th, IBEX shares ex-div on Oct 18th, cash payment Nov 6th, new shares Nov 12th, around €0.15 - 2014/08/29. An overview of dividend scrips for Spanish banks during last year (ES)
- 2014/07/30. 87.27% as new shares, 210mi new shares (EN)
- 2014/07/11. Ratio 1:49, Cash value €0.152 (EN)
- 2014/06/02. Calendar for July 2014 dividend (EN)
Ratio on July 11th, IBEX shares ex-div on July 15th, cash payment Aug 1st, New shares between Aug 6th and Aug 11th, around €0.15 - 2014/05/18. Why dividend scrips are good for shareholders (EN)
DB rising €8bi at 25-30% discount. Dividend scrips are at 0 discount, and raise €1.5bi capital every quarter. I am fully convinced they are not needed for regulatory ratios. They will be used (in that sequence) for (1) capitalize organic growth, (2) acquisitions, (3) in case excess, share repurchases. - 2014/04/29. 88.22% as new shares, 217mi new shares (EN)
- 2014/04/10. Ratio 1:47, Cash value €0.149 (EN)
- 2014/02/24. Calendar for April 2014 dividend (EN)
Ratio on April 10th, IBEX shares ex-div on April 14th morning, cash payment May 2nd, New shares May 9th, around €0.15. - 2014/02/22. BdE limits 2014 cash dividend to 25% of earnings and ask to limit scrip dividend to medium term sustainable level (= at a level that can be paid in all cash at medium term) (ES)
- 2014/02/11. Botin has taken the dividend as cash (ES)
For 6.46mi directly owned, plus 72.84mi in a fund (5 family members) - 2014/01/30. 86.37% as new shares, 228mi new shares (EN)
- 2014/01/30. Shareholders General Assembly on March 28th. Board proposal will be €0.60 dividend for FY 2014, in 4 installments, all in the form of scrip (EN)
- 2014/01/13. Ratio for Jan dividend: 1:43 (section 3 of communicate - EN), value €0.152
- 2013/12/25. Corrected Nov and Aug 2011 in dividend history as per Claudia comment
- 2013/12/11. BdE links cash dividend payments in 2014 to the capital level end of 2013 (ES)
Can only distribute what is above 9% at keydate 2013/12/31. Santander end of Q3 2013 is at 11.53% - 2013/11/26. Calendar for Jan 2014 dividend (EN)
Ratio on Jan 13th, IBEX shares ex-div on Jan 15th morning, cash payment Feb 3rd, New shares Feb 7th, around €0.15. - 2013/11/25. BdE (Linde) open to limit dividend cash payout to 25% in 2014 (ES)
- 2013/11/22. IMF recommendations about 2014 dividend payout rules (EN)
At the basis, future net earnings, DTA, RWA and next General Assembly will be key. - 2013/11/22. Yet another article about Santander to cut its dividend (EN)
- 2013/10/25. BBVA cuts 2013 dividend and caps 2014 to 40% of net earnings (EN)
History
In the table below is an overview of the dividend for the last few years (all amounts in €).
When relevant, the percentage of shareholders taking the new shares is indicated (column "%share") and the ratio (number of existing shares to receive a new one, column "ratio")
Column "Value net" is the dividend received when choosing cash. There is 21% withholding tax [will be 20% in 2015 and 19% in 2016. Also not sure of the rate before 2012, could have been slightly lower than 21%: 19%]
Column "Value net" is the dividend received when choosing cash. There is 21% withholding tax [will be 20% in 2015 and 19% in 2016. Also not sure of the rate before 2012, could have been slightly lower than 21%: 19%]
Date | FY | Value | Type | Ratio | %share | Value net |
2015-01-29 | 2014 | 0.146 | Scrip | 44 | 83.73 | 0.115 |
2014-11-04 | 2014 | 0.151 | Scrip | 46 | 86.48 | 0.119 |
2014-07-30 | 2014 | 0.152 | Scrip | 49 | 87.27 | 0.12 |
2014-04-29 | 2013 | 0.149 | Scrip | 47 | 88.22 | 0.119 |
2014-01-27 | 2013 | 0.152 | Scrip | 43 | 86.37 | 0.120 |
2013-11-08 | 2013 | 0.153 | Scrip | 41 | 89.2 | 0.120 |
2013-08-01 | 2013 | 0.150 | Scrip | 33 | 86.25 | 0.119 |
2013-05-02 | 2012 | 0.150 | Scrip | 34 | 87.4 | 0.119 |
2013-02-01 | 2012 | 0.152 | Scrip | 41 | 86.4 | 0.120 |
2012-11-09 | 2012 | 0.150 | Scrip | 38 | 83.57 | 0.119 |
2012-08-21 | 2012 | 0.152 | Scrip | 32 | 72.58 | 0.120 |
2012-05-03 | 2011 | 0.220 | Scrip | 24 | 75.18 | 0.174 |
2012-02-02 | 2011 | 0.119 | Scrip | 46 | 86.65 | 0.119 |
2011-11-03 | 2011 | 0.126 | Scrip | 50 | 72.99 | 0.102 |
2011-08-01 | 2011 | 0.135 | Cash | 0.110 | ||
2011-05-02 | 2010 | 0.229 | Cash | 0.185 | ||
2011-02-01 | 2010 | 0.117 | Cash | 0.095 | ||
2010-11-01 | 2010 | 0.119 | Cash | 0.964 | ||
2010-08-01 | 2010 | 0.135 | Cash | 0.110 | ||
2010-05-01 | 2009 | 0.222 | Cash | 0.180 | ||
2010-02-01 | 2009 | 0.123 | Cash | 0.100 | ||
2009-11-04 | 2009 | 0.120 | Scrip | ? | ? | 0.098 |
2009-08-01 | 2009 | 0.135 | Cash | 0.111 | ||
2009-05-01 | 2008 | 0.257 | Cash | 0.211 | ||
2009-02-01 | 2008 | 0.123 | Cash | 0.101 | ||
2008-11-01 | 2008 | 0.135 | Cash | 0.111 | ||
2008-08-01 | 2008 | 0.135 | Cash | 0.111 | ||
2008-05-01 | 2007 | 0.282 | Cash | 0.231 | ||
2008-02-01 | 2007 | 0.123 | Cash | 0.101 | ||
2007-11-01 | 2007 | 0.123 | Cash | 0.101 | ||
2007-08-01 | 2007 | 0.123 | Cash | 0.101 |
New shares have 0 value?
I often hear that the shares I receive through dividend script are worth nothing. I disagree: I did big SAN purchases in 2 occasions. one in Jan 2012 at a price of €5.6, then in July 2012 at a price of €4.03. Say both purchases were 10k shares (only this is not real numbers). I took the dividend as new shares every scrip. What is the result? (After October 2014 dividend, with a share at €6.77, key date Nov 5th 2014.
- Jan 2012. I bought 10,000 shares at a price of €5.6. I now have 13,352 shares each with value €6.77. The total gain is €34.4k, 61.4% return. The new shares provide 66.0% of the total return.
- July 2012. I bought 10,000 shares at a price of €4.03. I now have 12,823 shares each with value €6.77. The total gain is €46.5k, 115.4% return. The new shares provide 41.1% of the total return.
I really don't understand the guys who say the new shares taken during scrip are worth nothing. It is no separate share category, can be traded as normal and they have a non zero value.
Nov 2011 the ratio was 50 (according to the number of shares I received), Aug 2011 was a cash dividend.
ReplyDeleteThank you. I have corrected the history table
DeleteHi Vincent,
ReplyDeleteHow do you view this news. It certainly took me by surprise:
http://seekingalpha.com/news/2212055-update-santander-slashing-dividend-alongside-capital-raise