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Last update: 01/08/2025
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.
Shareholder remuneration charged against 2024 results
TOTAL CASH DIVIDEND
€21 cents per share
+19% vs. 2023
TOTAL REMUNERATION
€6,287 million
+13% vs. 2023
TOTAL BUYBACK PROGRAMMES
€3,112 million
PAYOUT
c. 50 %
of attributable profit
The 2025 AGM approved a final cash dividend charged against 2024 results in the gross amount of €11.00 cents per share paid on 2 May 2025. Including the interim cash dividend paid in November 2024 (€10.00 cents), the total cash dividend per share paid against 2024 results was €21.00 cents, around 19% more than the dividends paid against 2023 results.
Additionally, we completed two share buyback programmes for a total of €3,112 million. The Group has now repurchased more than 14% of its outstanding shares since we began our buybacks in 2021.
Including these cash dividends and share buybacks, total shareholder remuneration against 2024 results was €6,287 million, 13% higher than the remuneration against 2023 results, distributed approximately equally between cash dividends and share buybacks.
shareholders
shareholders
*June 2025 data
As announced on 5 February 2025, the shareholder remuneration policy that the board intends to apply for the 2025 results consists of a total shareholder remuneration of approximately 50% of the Group reported profit (excluding non-cash, non-capital ratios impact items), to be distributed in approximately equal parts between cash dividends and share buybacks.
Additionally, on the same date, the board announced its objective to allocate €10 billion to shareholder remuneration in the form of share buybacks charged against 2025 and 2026 results, as well as anticipated capital excess. This target includes i) the buybacks that form part of the aforementioned shareholder remuneration policy, and ii) additional buybacks following the publication of the full year results, to distribute end-of-year CET1 excess capital. On 30 July 2025, the bank announced the launch of the first share buyback programme for 2025 results. You can find all the information about this buyback programme here.
On 5 May 2025, Santander announced its intention to distribute 50% of the capital released from the disposal of its 49% stake in Santander Bank Polska S.A., through a share buyback of approximately €3.2 billion in early 2026, as part of additional buybacks to distribute excess capital and, as a result, it could exceed the €10 billion target. Upon announcing the agreement to acquire TSB Banking Group plc on 1 July 2025, the bank confirmed its goal to distribute at least €10 billion in share buybacks charged against 2025 and 2026 results and excess capital.
The implementation of the shareholder remuneration policy and the aforementioned share buybacks are subject to future corporate and regulatory decisions and approvals.
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 2023, we presented our growth plan for 2023-2025 which aims to maximize profitability and kick off a new phase of shareholder value creation. The overall strategy is to grow lending and our customer base while achieving greater efficiency on the back of automation and simplification of processes.
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.
