Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 156

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 156
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 equal parts in cash dividends (EUR 1,942 million) and share buybacks (EUR 1,900 million).

With regard to the remuneration policy against the 2023 earnings , the board followed a policy of allocating 50% of the Group’s reported profit, excluding non-cash, non-capital ratios impact items, to shareholder remuneration, distributed in approximately 50% in cash dividend and 50% in share buybacks.

Interim remuneration. On 26 September 2023, the board resolved to pay an interim cash dividend against the 2023 results of 8.10 euro cents per share entitled to the dividend (equivalent to approximately 25% of the Group's reported profit in the first half of 2023). The interim dividend was paid on 2 November 2023. The board also agreed to implement the First 2023 Buyback Programme worth approximately EUR 1,310 million (equivalent to approximately 25% of the Group's reported profit in the first half of 2023). The First 2023 Buyback Programme was completed on 25 January 2024, and resulted in the acquisition of a total of 358,567,487 shares.

Final remuneration. Under the 2023 shareholder remuneration policy, on 19 February 2024, the board of directors resolved to submit a resolution at the 22 March 2024 AGM to approve a final cash dividend in the gross amount of 9.50 euro cents per share entitled to dividends. Following the approval at the AGM, the dividend was paid from 2 May 2024. The board of directors also resolved to implement the Second 2023 Buyback Programme worth EUR 1,459 million, which commenced on 20 February 2024 and was completed on 17 June 2024 resulting in the acquisition of a total of 331,305,000 shares.

Total shareholders' remuneration for 2023 amounted to EUR 5,538 million (approximately 50% of the Group's reported profit in 2023), distributed in approximately 50% in cash dividend and 50% in share buybacks.

With regard to the remuneration policy against the 2024 earnings , the board continued the policy of allocating approximately 50% of the Group's underlying profit to shareholder remuneration, split in approximately equal parts in cash dividends and share buybacks.

Interim remuneration. On 24 September, the Board approved