MEXICO CITY, Dec. 13, 2013 /PRNewswire/ -- Grupo Financiero
Santander Mexico, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX)
("Santander Mexico" or the "Company") one of the leading financial
groups in Mexico, today announced
that, in accordance with its previously announced capital
optimization strategy, an Ordinary and Extraordinary General
Shareholders Meeting was held, at which, among other items,
Santander Mexico approved: i) advancing payment to its shareholders
of the cash dividend from retained earnings in the amount of
Ps.4,900 million, or Ps.0.72 per share, previously approved at its
Shareholders' Meeting held on August 20,
2013, to December 27, 2013
from the original date of February 25,
2014; and ii) payment of a cash dividend from retained
earnings to its shareholders in the total amount of Ps.12,000
million, or approximately Ps.1.77 per share, to be paid on
December 27, 2013. Separately, an
Ordinary and Extraordinary General Shareholders Meeting of its
subsidiary Banco Santander (Mexico), S.A. Institucion de Banca Multiple,
Grupo Financiero Santander Mexico was held, at which the Bank
authorized the issuance of subordinated notes that comply with
capital requirements under Basel III for Tier 2 capital in an
aggregate amount of approximately U.S.$1,000
million, subject to market conditions and regulatory
approvals.
As a result, on December 27, 2013
Santander Mexico will pay its shareholders a total dividend of
Ps.16,900 million (approximately U.S.$1,300
million based on an exchange rate of 13.0). In 2014 and
subsequently thereafter, the Company expects to continue its
practice of paying annual dividends equivalent to 50% of its
retained earnings, although dividend payments will ultimately be
subject to annual earnings and shareholders' resolutions.
Banco Santander S.A. (Spain)
has expressed its intention to purchase 75% of the debt issuance
referenced above under market conditions and to ensure its complete
subscription.
Upon consummation of these capital optimization initiatives, it
is estimated that the Bank will maintain a Tier 1 capital ratio of
at least 12% and a Tier 2 capital ratio of approximately 2.5%.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
securities in the United States of
America or any other jurisdiction in which such offer,
solicitation or sale would be prohibited prior to registration or
qualification under the securities laws of the United State or any
such jurisdiction. The offering of debt securities described in
this press release have not been registered under the United States
Securities Act of 1933 or any applicable securities laws of any
other jurisdiction. Without such registration, the securities
described above may not be offered or sold in the United States or any other jurisdiction
except pursuant to an exemption from the registration requirements
of the Securities Act of 1933 or any applicable securities laws of
such other jurisdiction.
About Grupo Financiero Santander
Mexico
Grupo Financiero Santander Mexico, S.A.B. de
C.V. (Santander Mexico), one of Mexico's leading financial services holding
companies, provides a wide range of financial and related services,
including retail and commercial banking, securities brokerage,
financial advisory and other related investment activities.
Santander Mexico offers a multichannel financial services platform
focused on mid- to high-income individuals and small- to
medium-sized enterprises, while also providing integrated financial
services to larger multinational companies in Mexico. As of September
30, 2013, Santander Mexico had total assets of Ps.806.3
billion under Mexican GAAP and more than 10.6 million customers.
Headquartered in Mexico City, the
Company operates 991 branches and 238 offices nationwide and has a
total of 13,883 employees.
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.