On Tuesday, Santander, a Spanish bank, announced that its board had approved a total cash dividend of 0.21 euros ($0.2207) per share for the 2024 results, marking a 19% increase from the previous year. The board's decision followed a proposal for a final cash dividend of 0.11 euros for 2024, subject to shareholder approval at the April 4 meeting and scheduled for payment on May 2.
Overall, shareholders can expect a total remuneration of approximately 6.3 billion euros for the year 2024, representing about 50% of the bank's attributable profit for that year. This remuneration will be split equally between cash dividends and share buybacks.
Santander recently unveiled plans for buybacks from 2025 and 2026 earnings as well as excess capital, in addition to its regular cash dividend distribution. (1$ = 0.9517 euros)