By The Financial District
Feb 201 min
Spain's Santander has announced a new share buyback program totaling 1.46 billion euros ($1.57 billion).
Santander aims to acquire shares at an average price not exceeding 4.76 euros, with a maximum of 369.3 million shares to be repurchased, equivalent to 2.33% of the bank's capital. I Photo: Santander
Additionally, the bank disclosed its intention to raise its dividend per share for 2023 by approximately 50%. Jesus Aguado reported for Reuters.
The share buyback program, which received regulatory approval, is set to commence on Tuesday. Santander aims to acquire shares at an average price not exceeding 4.76 euros, with a maximum of 369.3 million shares to be repurchased, equivalent to 2.33% of the bank's capital.
Concurrently, the bank proposed a final cash dividend of 0.095 euros per share for 2023, subject to approval at its annual general meeting scheduled for March 22. This brings the total cash dividend per share for 2023 to 0.176 euros.