Santander scrip shares

Hi Trading 212

I have received reports that Santander shareholder will be receiving free shares in December as the company has announced that there will be scrip dividend for 2020.

Please can you advise how this will effect individuals who currently hold Santander shares.
Will we be receiving an email later in trading 212 showing that we will receive additional shares?
Also who is this eligible to, is this for existing shareholder who have held the shares for up to which date,

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Hi @Chris,

Telefonica also offered a scrip dividend, and the way it worked is that T212 sold the shares and credited us the monetary value. Divided payments are usually paid around 7 to 10 days later.
I imagine that the process will be the same with Santander, so, you wont get the share, but you will get the money, which you can then choose to buy the share if you want to :smiley:.

The reason being that T212 can currently only offer cash dividends. It is not ideal, but it worked quite well last time :slight_smile: (except for the fact that it takes a few days).

At least, this was the situation a few weeks/months ago when Telefonica paid its scrip dividend. Someone from the T212 team please correct me if anything I say is incorrect or anything has changed.

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