The board of Banco Santander announced today its decision to make an interim distribution from 2021 earnings through a cash dividend and share buyback amounting to a total value c.€1.7 billion -equivalent to 40% of underlying profit for the first half of 2021. The board’s decision has been taken in view of the lifting of the European Central Bank (ECB) recommendation that has limited shareholder remuneration until 30 September 2021
Shareholder remuneration will be made in two parts:
-A cash dividend of 4.85 euro cents per share, payable from 2 November 2021.
-A share repurchase programme for an approximate amount of 841 million euros, for which the bank has received ECB approval. An announcement setting out additional information on the terms of the repurchase programme will be made before it commences.
Ana Botín said: “The updated remuneration policy reflects our confidence that investing in our shares at this valuation offers an attractive opportunity to generate value for our shareholders.”
