This share prices have a 15 minute delay and are shown in the local time of the market in which the quote is displayed.
Last update: 16/05/2024
Santander is committed to creating value for our 3.6 million shareholders worldwide through double-digit growth on average throughout the cycle.
Increasing profitability and creating value for all our 3.6 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
The value we return to shareholders based on the 2023 results equals 50% of underlying profit, split evenly between a cash dividend and share buybacks.
We paid a final gross cash dividend of 9.5 euro per share in May 2024, while the €1.46 billion share buyback programme we began in February continues to run. Once it ends, we expect total shareholder remuneration charged against the 2023 results to reach €5.5 billion.
For the 2024 results, the board intends to continue applying the same policy as last year. Total shareholder remuneration will equal 50% of the Group’s underlying profit, split almost equally between cash dividends and share buybacks (subject to future business and regulatory approval).
We’re confident of 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.
shareholders
shareholders
*March 2024 data
In the first quarter of 2024, Santander increased profitability and shareholder value with a return on tangible equity (RoTE) of 14.9%. That rises to 16.2% if we annualize the impact of the temporary banking levy in Spain, which was registered in full in the first quarter (€335 million).
In addition, earnings per share (EPS) was €0.17, up 14% year on year, and tangible net asset value (TNAV) per share was €4.86 at the end of the first quarter.
Including the cash dividend paid in November 2023, and the final dividend paid in May, total value creation (TNAV plus cash dividend per share) increased 14%. The value created for shareholders in Q1 is equivalent to €3.1 billion.
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.
