Santander is committed to creating value for its 3.5 million shareholders worldwide, offering sustainable profitability and generating double-digit growth.
Increasing profitability and creating value for all our 3.5 million shareholders are among Grupo Santander’s top priorities. As a responsible bank, we pledge to offer constant, attractive returns that are underpinned by sustainable growth.
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*Data as of March 2026
The general shareholders’ meeting approved a final cash dividend of €12.5 cents per share against H2 2025 results. The dividend will be payable from 5 May 2026. Considering the interim cash dividend of €11.50 cents per share paid in November 2025, the total cash dividend per share paid against 2025 results was 14% higher than that paid against 2024 results.
Likewise, the board of directors approved a Buyback Programme worth up to €5,030 million. The programme started on 4 February 2026. This programme includes €1,830 million corresponding to c.25% of the Group’s net reported profit for H2 2025, under the ordinary shareholder remuneration policy and the remaining amount corresponds to an extraordinary buyback of €3,200 million, equivalent to approximately 50% of the CET1 capital generated following completion of the Poland disposal.
This programme puts us on track to achieve our goal of distributing at least €10 billion through share buybacks charged against 2025 and 2026 results and against expected capital excess1.
Considering the ongoing share buyback2, we have already carried out approximately 70% of this goal. Considering the final cash dividend and the second share buyback as part of our ordinary payout policy, total shareholder remuneration charged against 2025 results will be €7,050 million (approximately 50% of the Group’s 2025 net reported profit, excluding non-cash, non-capital ratios impact items), split almost evenly between cash dividends and share buybacks.
1. As previously announced, Santander intends to allocate at least €10 billion to shareholders through share buybacks charged against 2025 and 2026 results and against the expected capital excess. This share buyback target includes: i) buybacks that are part of the existing shareholder remuneration policy; and ii) additional buybacks following the publication of annual results to distribute year-end excesses of CET1 capital. The implementation of the shareholder remuneration policy and additional buybacks is subject to future corporate and regulatory decisions and approvals.
2. The current share buyback program has been temporarily suspended from April 24 to May 26, 2026, pending Webster’s shareholder meeting, at which Santander’s acquisition of the U.S. bank will be put to a vote, in line with regulatory requirements.
Think Value: Looking to the future
Our focus for the future is on increasing revenue sensibly and simplifying our business to do more with less. This way we will deliver shareholder value through double-digit growth on average throughout the cycle.
Promoting transparency and engagement
Transparency is key to maintaining 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 regular Investor Days. At the most recent Investor Day, in February 2026, we presented our strategic plan for 2026-2028.
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 hold regular meetings 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, as well as access to our Yo Soy Accionista loyalty programme with promotions, prize draws and discounts.
Such organizations as Asociación Española de Relación con Inversores (Spanish association of shareholder relations, or AERI) and leading publications IR Magazine and Institutional Investor have often praised our shareholder engagement.
