Under Spanish law, dividends paid by Santander, a Spanish resident company, to a holder of ordinary shares not residing in Spain for tax purposes, are subject to Spanish Non-Resident Income Tax (withholding tax) at the rate of 19%, since 1 January 2016.
Following the procedures set forth by Spanish legislation, Santander will levy an initial withholding tax on the gross dividend at the above rate. For further details, please refer to the following information sheet.
Spanish withholding tax information on dividends