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Empresas y finanzas

Santander to raise capital by $8.82 billion, cuts dividend


    MADRID (Reuters) - Spain's Santander , the euro zone's largest bank by market value, said on Thursday that it would raise 7.5 billion euros ($8.82 billion) in capital through an accelerated placement, adding it was changing its dividend policy.

    The share sale is worth 9.9 percent of the company's capital before the issuance.

    The bank said it would pay 0.20 euros per share in dividends against 2015 earnings, of which 0.15 euros per share would be in cash, after a total payment of 0.60 euro per share against 2014 earnings.

    ($1 = 0.8500 euros)

    (Reporting by Jesus Aguado; Writing by Paul Day; Editing Elisabeth O'Leary)