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Banco Santander-Chile: Announces Annual Shareholder's Meeting and Dividend Proposal

SANTIAGO, Chile, March 18, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today that it has agreed to summon the annual shareholders meeting on April 21, 2020. Among the items to be submitted for shareholder vote will be the annual dividend proposal of Ch$1.75782621 per share, corresponding to 60% of 2019 net income attributable to shareholders. With this proposal, the current dividend yield is 6.6%, considering the share price at the close of the Chilean stock market today.

Banco Santander Chile is the largest Bank in Chile in terms of assets, loans and equity. As of December 31, 2019, we had total assets of Ch$50,578,246 million (U.S.$67,675 million), outstanding loans net of allowances for loan losses of Ch$31,823,735 million (U.S.$42,581 million), total deposits of Ch$23,490,249 million (U.S.$ 31,431 million) and equity of Ch$3,470,317 million (U.S.$4,643 million). As of December 31, 2019, we employed 11,200 people and had a large private branch network in Chile, with 377 branches. Our headquarters are located in Santiago and we operate in every major region of Chile. Our long-term credit risk rating were A1 by Moody's, A Fitch and A Standard & Poor's.

CONTACT INFORMATION

Robert Moreno

Investor Relations

Banco Santander Chile

Bandera 140, Floor 20 Santiago, Chile

Tel: (562) 2320-8284

Email: irelations@santander.cl

Website: www.santander.cl