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Itaú CorpBanca's board proposes lower dividend payout ratio for 2018

Itaú CorpBanca's board proposed a dividend distribution of about 51.61 billion Chilean pesos, or 10 centavos per share, for 2018.

The total amount is equivalent to 30% of the Santiago-based bank's net income in 2018.

Last year, Itaú CorpBanca's board proposed distributing 40% of its 2017 profit as dividends. That proposal was approved by the company's shareholders.

As of March 8, US$1 was equivalent to 671.55 Chilean pesos.