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Santander Chile proposes dividend payment

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Santander Chile proposes dividend payment

BancoSantander Chile said in a Form 6-K filed April 1 that its boardagreed to propose a new dividend distribution amount to be voted on at itsannual shareholders' meeting April 26.

Shareholders will vote to approve a dividend of 1.78649813Chilean pesos per share, corresponding to 75% of net income attributable toshareholders for 2015. The remaining 25% will be used to increase the bank'sreserves.

With this new proposal, the bank's dividend will increase2.0% from the dividend paid in 2015. The current dividend yield is 5.5%,considering the share price at the close of the Chilean stock market March 31.

As of March 31, US$1was equivalent to 673.05 Chilean pesos.