You can specify two repositories in the distribution management section. One for the releases and one for the snapshots. Depending on your version number, the corresponding repository should be used for distribution.
You can't configure this setting in settings.xml, you have to configure it in the pom.xml. See this link
<project xmlns="http://maven.apache.org/POM/4.0.0"
xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
xsi:schemaLocation="http://maven.apache.org/POM/4.0.0
http://maven.apache.org/xsd/maven-4.0.0.xsd">
...
<distributionManagement>
<repository>
<uniqueVersion>false</uniqueVersion>
<id>corp1</id>
<name>Corporate Repository</name>
<url>scp://repo/maven2</url>
<layout>default</layout>
</repository>
<snapshotRepository>
<uniqueVersion>true</uniqueVersion>
<id>propSnap</id>
<name>Propellors Snapshots</name>
<url>sftp://propellers.net/maven</url>
<layout>legacy</layout>
</snapshotRepository>
...
</distributionManagement>
...
</project>
Example taken from POM Reference - Distribution_Management section, where you can find more information about it.
If you want to share the distribution management section for multiple projets, this answer shows a way to specify it company wide by using a pom packaged parent project.