Last update: 11/10/2023
At Santander, we commit to value creation, transparency and trust among our 3.8 million shareholders worldwide.
Santander prioritizes value creation, transparency and trust for our 3.8 million shareholders the world over. As a responsible bank, we pledge to offer constant, attractive returns that are underpinned by sustainable growth.
In 2022, we paid out a cash dividend of 11.78 euro cents per share and distributed 1.9 billion euros via share buybacks. Our aim for the next three years is to increase shareholder remuneration from the 40% of underlying profit we paid out in 2022 to 50% of underlying profit from 2023 to 2025, through cash dividends and share buybacks.
Maintaining our fully-loaded CET1 ratio above 12% through strong organic capital generation thanks to the Group's focus on creating shareholder value and our disciplined capital allocation to the most profitable businesses.
The board-approved shareholder remuneration for 2023 is a pay-out of close to 50% of underlying net profit (not including non-cash, non-capital ratio impact items), with half as a cash dividend and half under share buybacks.
Promoting transparency and engagement
Transparency is key to gaining trust in the market. Santander provides all information it considers pertinent to meet shareholders’ needs and interests, and regularly engages with shareholders through official communications channels.
We outline our strategy and targets at the Investor Days we hold regularly. At the most recent Investor Day, in February 2023, we presented our growth plan for 2023-2025 to maximize profitability and usher in a new phase of shareholder value creation.
We listen to our shareholders’ opinions and encourage them to take part in decision-making at the bank. Every shareholder can take part in general shareholders’ meetings, regardless of the number of shares they hold. We offer them several ways of taking part according to what best suits their needs.
We meet regularly with shareholders and offer them tailor-made, real-time assistance through our website, our Shareholders and Investors app, a dedicated telephone line, WhatsApp and email. Santander shareholders also get exclusive financial products and services.
Trust and ongoing engagement with our shareholders help us build long-lasting relationships and a strong shareholder base. Organizations such as Asociación Española de Relación con Inversores (Spanish association of shareholder relations, or AERI) and leading publications IR Magazine and Institutional Investor have also praised our shareholder engagement.