Banco Santander has announced that it has completed its share buyback program after reaching the maximum scheduled investment of €5.03 billion. In total, the bank acquired 462,683,139 treasury shares, equivalent to approximately 3.08% of its share capital.
The program, regularly reported to the market in accordance with European regulations, aimed to cancel the acquired shares and reduce the share capital, a measure authorized by the European Central Bank (ECB) on February 2 and approved by the general shareholders’ meeting on March 27.
The capital reduction, scheduled to be executed shortly, will amount to €231.34 million through the cancellation of these shares. As a result, SAN’s share capital will be set at €7.28 billion, represented by 14.56 billion shares.
The transaction will not involve any return of contributions to shareholders and will increase earnings per share by reducing the number of outstanding shares.
