Banco Santander (Brasil) SA's board has approved the payment of 1.40 billion Brazilian reais in dividends and the distribution of 3.35 billion reais in interest on equity.

The dividends payment corresponds to 8.88 centavos per common share, 9.77 centavos per preferred share and 18.65 centavos per unit, while the interest on equity payment translates to a net amount of 36.14 centavos per common share, 39.75 centavos per preferred share and 75.88 centavos per unit.

The payments will be made Feb. 23, 2017, to shareholders of record as of Jan. 4, 2017, according to a Form 6-K filed Dec. 29.

As of Dec. 29, US$1 was equivalent to 3.25 Brazilian reais.