Santander's new chief Ana Botin continued her shake-up of the Spanish lender on Thursday with plans to boost its capital with a 7.5 billion euro ($8.8 billion) share sale and a cut to its dividends. The euro zone's biggest bank had long been under scrutiny over its capital levels and had stuck to what some analysts said was an overgenerous dividend policy in the years since the 2007 global financial crisis. "I think it's the right thing to do. They needed to strengthen their capital base," said Francois Savary, chief investment officer at Swiss bank and fund management group Reyl, which owns some Santander shares. Santander has weathered a deep economic crisis at home in recent years, helped by revenue from key overseas markets such as Brazil and Britain.