Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000031
Chunk: 5

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 5
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 to the same dividend last year. Together with the dividend paid in May, cash dividend per share paid during 2024 was 39% more than the previous year. The total amount returned to shareholders in the 2024 interim remuneration was around €3,050 million, with approximately half paid in the form of the aforementioned cash dividend of 10 euro cents per share, and half through the share buyback programme launched in August and completed in December. In application of the bank’s shareholder remuneration policy3, Santander announces today a share repurchase programme for an amount of c.25% of the group’s profit in the second half of 2024 (maximum amount of €1,587 million). The regulatory authorization has already been obtained and its execution will commence tomorrow. The proposal for the final cash dividend from 2024 earnings that will be submitted to the approval of the annual general shareholders meeting is expected to be approved by the board on 25 February 20253. Since 2021, including the second buyback against 2024 earnings just announced, Santander will have returned c.€9.5 billion to shareholders via share buybacks and has repurchased c.15% of its outstanding shares. Assuming the same payout ratio is applied to the final cash dividend against 2024 results3, the total amount of cash dividend and share buybacks would be c.€6.3 billion, representing an equivalent yield of over 8%5. Overall, these results, with record levels in net interest income, net fee income, total income and profit, have enabled the bank to achieve or exceed all its targets for the year, some of which were upgraded in the second quarter: 3 Target payout defined as c.50% of Group reported profit (excluding non-cash, non-capital ratios impact items), distributed approximately 50% in cash dividend and 50% in share buybacks. Execution of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals. 4 Zero day-one impact from Basel III under the final texts published in June 2024 of Regulation 2024/1623 (CRR3) and Directive 2024/1619 (CRD6). However, during 2025 the publication of ECB guides on options and discretions and EBA mandates could result in additional impacts on CET1 ratios across the industry. 5 Per Banco Santander's market capitalization on 4 February 2024.

Corporate Communications Ciudad Grupo Santander,