REG - Banco Santander S.A. - Dividend Declaration

Banco Santander SAAnnouncement

27/09/2022 18:30

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RNS Number : 9072A  Banco Santander S.A.  27 September 2022

 Banco Santander, S.A. ("Banco Santander" or the "Bank"), in compliance with
 the Securities Market legislation, hereby communicates the following:

 inside information

 In application of the Bank's current shareholder remuneration policy,
 consisting of a total shareholder remuneration target of c. 40% of the Group's
 underlying profit, split approximately in equal parts in cash dividend
 payments and share buybacks, the board of directors today approved the payment
 of an interim cash dividend against 2022 results of 5.83 euro cents per share,
 equivalent to c. 20 % of the Group's underlying profit in the first half of
 2022.
 § The interim dividend will be paid from 2 November 2022; and
 § The last day to trade shares with a right to receive the interim dividend
 will be 28 October 2022, the ex-dividend date will be 31 October 2022 and the
 record date will be 1 November, 2022.
 In addition, also in application of such policy, the board has agreed to
 implement a share repurchase programme for an amount equivalent to c. 20% of
 the Group's underlying profit in the first half of 2022 (i.e. a programme of
 approximately 979 million euros), which is expected to start once the
 applicable regulatory approval has been obtained. A further announcement
 setting out additional information on the terms of the share repurchase
 programme will be made before it commences.
 The implementation of the remainder of the shareholder remuneration policy for
 2022 is subject to the appropriate corporate and regulatory approvals.

 Boadilla del Monte (Madrid), 27 September 2022

 

 IMPORTANT INFORMATION
 Non-IFRS and alternative performance measures

 This document contains, in addition to the financial information prepared in
 accordance with International Financial Reporting Standards ("IFRS") and
 derived from our financial statements, alternative performance measures
 ("APMs") as defined in the Guidelines on Alternative Performance Measures
 issued by the European Securities and Markets Authority (ESMA) on 5 October
 2015 (ESMA/2015/1415en) and other non-IFRS measures ("Non-IFRS Measures").
 These financial measures that qualify as APMs and non-IFRS measures have been
 calculated with information from Santander Group; however those financial
 measures are not defined or detailed in the applicable financial reporting
 framework nor have been audited or reviewed by our auditors. We use these APMs
 and non-IFRS measures when planning, monitoring and evaluating our
 performance. We consider these APMs and non-IFRS measures to be useful metrics
 for our management and investors to compare operating performance between
 accounting periods, as these measures exclude items outside the ordinary
 course performance of our business, which are grouped in the "management
 adjustment" line and are further detailed in Section 3.2. of the Economic and
 Financial Review in our Directors' Report included in our Annual Report on
 Form 20-F for the year ended 31 December 2021. Nonetheless, these APMs and
 non-IFRS measures should be considered supplemental information to, and are
 not meant to substitute IFRS measures. Furthermore, companies in our industry
 and others may calculate or use APMs and non-IFRS measures differently, thus
 making them less useful for comparison purposes.  For further details on APMs
 and Non-IFRS Measures, including their definition or a reconciliation between
 any applicable management indicators and the financial data presented in the
 consolidated financial statements prepared under IFRS, please see the 2021
 Annual Report on Form 20-F filed with the U.S. Securities and Exchange
 Commission (SEC) on 1 March 2022, updated by Form 6-K filed with the SEC on 8
 April 2022 to incorporate the new organizational and management structure, as
 well as the section "Alternative performance measures" of the annex to the
 Banco Santander Q2 2022 Financial Report, published as Inside Information on
 28 July 2022. These documents are available on Santander's website
 (www.santander.com). Underlying measures, which are included in this document,
 are non-IFRS measures.

 The businesses included in each of our geographic segments and the accounting
 principles under which their results are presented here may differ from the
 included businesses and local applicable accounting principles of our public
 subsidiaries in such geographies. Accordingly, the results of operations and
 trends shown for our geographic segments may differ materially from those of
 such subsidiaries
 Forward-looking statements

 Banco Santander advises that this document contains "forward-looking
 statements" as per the meaning of the U.S. Private Securities Litigation
 Reform Act of 1995. These statements may be identified by words like "expect",
 "project", "anticipate", "should", "intend", "probability", "risk", "VaR",
 "RoRAC", "RoRWA", "TNAV", "target", "goal", "objective", "estimate", "future"
 and similar expressions. Found throughout this document, they include (but are
 not limited to) statements on our future business development, economic
 performance and shareholder remuneration policy. However, a number of risks,
 uncertainties and other important factors may cause actual developments and
 results to differ materially from our expectations. The following important
 factors, among others, could affect our future results and could cause
 materially different outcomes from those anticipated in forward-looking
 statements: (1) general economic or industry conditions of areas where we have
 significant operations or investments (such as a worse economic environment;
 higher volatility in the capital markets; inflation or deflation; changes in
 demographics, consumer spending, investment or saving habits; and the effects
 of the COVID-19 pandemic in the global economy); (2) exposure to various
 market risks (particularly interest rate risk, foreign exchange rate risk,
 equity price risk and risks associated with the replacement of benchmark
 indices); (3) potential losses from early repayments on our loan and
 investment portfolio, declines in value of collateral securing our loan
 portfolio, and counterparty risk; (4) political stability in Spain, the United
 Kingdom, other European countries, Latin America and the US; (5) changes in
 legislation, regulations or taxes, including regulatory capital and liquidity
 requirements, especially in view of the UK exit from the European Union and
 increased regulation in response to financial crisis; (6) our ability to
 integrate successfully our acquisitions and related challenges that result
 from the inherent diversion of management's focus and resources from other
 strategic opportunities and operational matters; and (7) changes in our access
 to liquidity and funding on acceptable terms, in particular if resulting from
 credit spreads shifts or downgrade in credit ratings for the entire group or
 significant subsidiaries.

 Numerous factors could affect our future results and could cause those results
 deviating from those anticipated in the forward-looking statements. Other
 unknown or unpredictable factors could cause actual results to differ
 materially from those in the forward-looking statements.

 Forward-looking statements speak only as of the date of this document and are
 informed by the knowledge, information and views available on such date.
 Santander is not required to update or revise any forward-looking statements,
 regardless of new information, future events or otherwise.
 No offer

 The information contained in this document is subject to, and must be read in
 conjunction with, all other publicly available information, including, where
 relevant any fuller disclosure document published by Santander. Any person at
 any time acquiring securities must do so only on the basis of such person's
 own judgment as to the merits or the suitability of the securities for its
 purpose and only on such information as is contained in such public
 information having taken all such professional or other advice as it considers
 necessary or appropriate in the circumstances and not in reliance on the
 information contained in this document. No investment activity should be
 undertaken on the basis of the information contained in this document. In
 making this document available Santander gives no advice and makes no
 recommendation to buy, sell or otherwise deal in shares in Santander or in any
 other securities or investments whatsoever.

 Neither this document nor any of the information contained therein constitutes
 an offer to sell or the solicitation of an offer to buy any securities. No
 offering of securities shall be made in the United States except pursuant to
 registration under the U.S. Securities Act of 1933, as amended, or an
 exemption therefrom. Nothing contained in this document is intended to
 constitute an invitation or inducement to engage in investment activity for
 the purposes of the prohibition on financial promotion in the U.K. Financial
 Services and Markets Act 2000.
 Historical performance is not indicative of future results

 Statements about historical performance or accretion must not be construed to
 indicate that future performance, share price or future earnings (including
 earnings per share) in any future period will necessarily match or exceed
 those of any prior period. Nothing in this document should be taken as a
 profit forecast.

 

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