SANTANDER (dpa-AFX) - Banco Santander S.A. (BNC.L, BSBR, SAN) said that it would take about 1.5 billion euros impairment following a review of the goodwill ascribed to its U.K. subsidiary.
The impairment was primarily due to a change in the outlook for Santander UK as a result of a challenging regulatory environment, and ongoing uncertainty relating to Brexit.
The impairment will be recognised in its consolidated results for the third quarter of 2019, the company said in a statement.
The lender also said that its board approved its first dividend against 2019 earnings of 0.10 euros per share, which will be entirely paid in cash from 1 November. The shareholders will receive two annual dividend payments starting this year, instead of four.
In addition, the board has approved its intention to maintain a payout ratio over the underlying attributable profit from 2019 of 40-50%, with the proportion of cash dividend per share at least that of the last year.
The company's appointments committee has proposed that Pamela Walkden will join the board as an independent director. Walkden will replace Carlos Fernández, who has served as an independent non-executive director since 2015.
The board has approved the appointment of Marjolein van Hellemondt-Gerdingh as Group Chief Compliance Officer of Santander Group.
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