Seeking Alpha

Santander Consumer May dividend could be the last for a while

  • The Fed last week told Santander Consumer USA (SC -5.4%) it didn't object to its May dividend of $0.15 per share as long as Santander (SAN -0.6%) contributes at least $20.9M of  capital to its U.S. holding company. Any further dividends will require Fed permission, and the company doesn't expect to submit a revised capital plan until January.
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Comments (2)
  • jkeung
    , contributor
    Comment (1) | Send Message
     
    good move by both, the Fed and SAN to conserve capital.
    6 Jun 2014, 04:18 PM Reply Like
  • monmad
    , contributor
    Comments (83) | Send Message
     
    Very good to know the Fed is on the job but very disappointing to find the Parent is not more supportive of SC's decision to start a dividend. Perhaps they are reviewing the matter and will clarify their reasoning. The announcement of the dividend most certainly improved the desirability of the SC stock.
    7 Jun 2014, 07:10 AM Reply Like
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