Santander approves a dividend of 8.1 cents per share and a share repurchase plan for 1,310 million

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Banco Santander has confirmed this Tuesday the improvement in the remuneration to its shareholders that it already announced at its last Investor Day by approving the payment of a cash dividend based on the 2023 results of 8.10 euro cents per sharewhich represents an increase of 39% compared to the same dividend last year, and which will be paid on November 2.

In addition, the entity has agreed to launch a share repurchase program for an approximate amount of 1,310 million euros. “Since 2021, Santander has repurchased more than 7% of its outstanding shares through share buybacks,” the company said in a statement.

In total, the interim remuneration for 2023 results will be approximately 2,620 million euros, around 50% of the attributable profit for the first half of the year and 10% above the percentage of profit distributed among shareholders (payout) distributed the previous year.

As explained by the bank to the National Securities and Markets Commission (CNMV), the last day of trading of the share with the right to collect said interim dividend will be October 30. “The board of directors of Banco Santander will agree to additional remuneration charged to the 2023 results in the first quarter of 2024,” the statement states.

“The bank’s results are very good and we are on track to meet all our objectives for 2023. The recent decision to align the operating model of the retail and commercial and consumer banking areas to our strategy allows us to better serve our clients, grow profitably and improve efficiency,” noted its president, Ana Botín.

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