Santander shareholders approve 2025 results, dividends and major share buyback-driven capital cut
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Banco Santander ( (ES:SAN) ) has issued an announcement.
Banco Santander’s shareholders approved the 2025 annual financial statements and management reports for the parent bank and Grupo Santander, as well as the consolidated non-financial information included in its Sustainability Statement. The non-financial report details the group’s 2025 performance on material environmental, social and governance issues, aligned with the latest EU sustainability and taxonomy rules and prepared on the same consolidated basis as its financial accounts.
The meeting also approved the 2025 corporate management and the allocation of €11.11 billion in separate profits, including €3.52 billion for dividends and the remainder to voluntary reserves. Shareholders backed a cash dividend of 11.5 euro cents already paid as an interim distribution and a supplementary 12.5 euro cent final dividend payable in early May 2026, with final amounts subject to share count changes from the ongoing buyback programme and any capital increase.
In addition, shareholders authorised a significant capital reduction via cancellation of up to 1.33 billion treasury shares to be repurchased under a buyback of up to €5.03 billion. The move is designed to enhance shareholder remuneration by lifting earnings per share through a lower share count, with the cancelled shares funded from share capital, share premium and other unrestricted reserves and implemented without triggering a takeover bid requirement.
The capital reduction will be executed within a month of meeting key conditions, with the board empowered to set detailed terms and manage related reserve reclassifications and legal requirements. Banco Santander will adjust its legal and voluntary reserves after the reduction, and, as a credit institution meeting specific regulatory conditions, it does not need bondholder syndicate consent for this operation, simplifying execution for investors and creditors.
More about Banco Santander
Banco Santander is a global banking group headquartered in Spain, operating as a universal bank with a strong presence in retail, commercial and corporate banking. The group focuses on financial services including lending, deposits, payments and capital markets, with a significant footprint across Europe and the Americas and an increasing emphasis on sustainability and regulatory-compliant reporting.
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