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Banco de Chile sets stock dividend payout

Banco de Chile said it will pay out an amount equal to 40% of its distributable net income from 2017 through the issuance of 1,572,948,922 fully paid-in shares.

The amount breaks down to 93.73 Chilean pesos per share, to be distributed among shareholders at the rate of 0.02238030880 of a share for each share already held.

The move will increase the bank's capital stock by about 147.43 billion Chilean pesos.

As of March 26, US$1 was equivalent to 605.32 Chilean pesos.