Please note that this scheme does not apply to all or part of a dividend being distributed as a standard cash dividend.
When a scrip dividend is implemented, and if you are a shareholder who is resident in the EEA (see definition here), and have not previously registered a scrip election with the Santander Nominee Service, the default option applied to your holding will be to receive additional new shares, instead of cash, whenever a scrip dividend is offered. If you do not wish to receive shares, the Scrip Dividend Notification Letter that will be sent to you will set out how you will be able to change your option.
For further details of how we have worked out the default applicable to certain groups of shareholders please refer to the Santander Scrip Dividend Scheme Information Booklet.