Dividends

In application of the shareholder remuneration policy for 2022, the Annual General Meeting of Shareholders (AGM) approved, following a favourable report from the board of directors, the final payment of a cash dividend of EUR 5.95 cents per share (pre-tax) charged against 2022 results, paid from 2 May 2023.

Additionally, in application of the shareholder remuneration policy for 2022, in February, the board of directors approved a second share repurchase programme of up to EUR 921 million, executed between 1 March 2023 and 21 April 2023. Once finalized, in application of the 31 March 2023 AGM resolutions, on 24 April 2023 the board of directors resolved to reduce, subject to the required regulatory authorization from the European Central Bank, the share capital in the amount of EUR 134,924,476.50 by cancelling the 269,848,953 shares repurchased in the above mentioned buyback programme, representing 1.64% of the share capital. Once the required regulatory authorization is obtained, Banco Santander, S.A.'s share capital will be EUR 8,092,073,029.50 represented by 16,184,146,059 shares. 

After carrying out both actions, total shareholder remuneration against 2022 results was EUR 3,842 million (approximately 40% of 2022 underlying profit) divided approximately equally between cash dividend (EUR 1,942 million) and buyback programmes (EUR 1,900 million).

In addition, the shareholder remuneration policy the board approved for the 2023 results is a payout of approximately 50% of the Group's net reported profit (excluding non-cash, non-capital ratios impact items), distributed approximately as 50% in cash dividend and 50% in share buybacks.

The execution of the shareholder remuneration policy is subject to future corporate and regulatory approvals.

Further information on shareholder remuneration can be found in the following sections of this website:

• Dividends
• Prices of latest reinvestments (PDF 164 Kb) (Only available in Spanish)
• The most recent and historical dividend payments are shown in the table below.