Banco Santander Chile proposes a new dividend distribution proposal in order to multiply its capacity to support clients during the Coronavirus crisis contingency. The new dividend proposal contemplates payout 30% of 2019 net income attributable to shareholders; another 30% of 2019 net income destined to retained earning and the remaining 40% of net income will be destined to the Bank’s reserves.
The Chilean government said it will delay a bond issue so it can provide additional financing needs for a new emergency package to deal with the coronavirus outbreak. This allows financing for a $5.5 billion package to save jobs and help small businesses after massive social protests over the high cost of living and inequality.
After health experts warned that the peak of the disease would occur in the coming weeks, Sky announced the temporary suspension of all operations in Chile between March 25th and April 30th, 2020. The company plans to resume operations from May 1st.
The IPSA index, which groups the 30 main shares of the Santiago Stock Exchange, again scored a sharp drop and fell 5.83% to 2,897.83 points. A new low since 2009, specifically since May 7 of that year when IPSA closed at 2,814 points.
An e-mail was sent by the Minister of Finance, Ignacio Briones, to the rest of the Secretaries of State proposing a temporary reduction of 30% of their salaries for the next 6 months. The economist affirmed that the idea has been well received.