Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 37

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 37
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 February and June, for a total amount of EUR 1,587 million. A total of 267,166,950 shares were acquired, representing 1.76% of the share capital. In execution of the resolution adopted at the general shareholders’ meeting held on 4 April 2025, the executive committee carried out the amortization of the repurchased shares and the corresponding share capital reduction on 2 June 2025, as described in the ' Corporate governance ' section. As a result, the total shareholder remuneration charged against 2024 results, including the interim cash dividend of EUR 10.00 cents per share (paid in November 2024) and the first share buyback programme (amounting to EUR 1,525 million, completed in December 2024), amounted to EUR 6,287 million. This is approximately equivalent to 50% of the Group reported profit (excluding non-cash, non-capital ratios impact items) in 2024, distributed approximately 50% in cash dividends and 50% in share buybacks. As announced on 5 February 2025, the shareholder remuneration policy that the board intends to apply for the 2025 results consists of a total shareholder remuneration of approximately 50% of the Group reported profit (excluding non-cash, non-capital ratios impact items), to be distributed in approximately equal parts between cash dividends and share buybacks. Additionally, on the same date, the board announced its objective to allocate EUR 10 billion to shareholder remuneration in the form of share buybacks charged against 2025 and 2026 results, as well as anticipated capital excess. This target includes i) the buybacks that form part of the aforementioned shareholder remuneration policy, and ii) additional buybacks following the publication of the full year results, to distribute end-of-year CET1 excess capital. On 5 May 2025, Santander announced its intention to distribute 50% of the capital released from the disposal of its 49% stake in Santander Bank Polska S.A., through a share buyback of approximately EUR 3.2 billion in early 2026, as part of additional buybacks to distribute excess capital and, as a result, it could exceed the EUR 10 billion target. Upon announcing the agreement to acquire TSB Banking Group plc on 1 July 2025, the bank confirmed its goal to distribute at least EUR 10 billion in share buybacks charged against 2025 and