A Santander office building in London.
Luke MacGregor | Bloomberg via Getty Images
MADRID, February 28 (Reuters) – Spain’s Santander Group said on Tuesday it intends to increase its return on tangible equity (ROTE) ratio for the 2023-2025 period to 15% from 15%. -17% from the current 13.37% thanks to higher sales and interest in some of its core markets in Europe, such as Spain and South America.
The lender also revealed in a presentation to the Spanish custodian the new dividend payout policy for a period of 50% of the usual consolidated profits, compared with the previous policy of 40%.
Santander proposes a final cash dividend of 0.0595 euros per share. Therefore, the total cash dividend per share for 2022 will increase to 0.1178 euros, an increase of 18% compared to 2021. It has also announced an additional share buyback program worth 921 million euros. ($974.79 million) after being licensed in accordance with regulations.
The bank’s shareholder compensation compared to the 2022 results will increase to 3.84 billion euros, divided equally in cash dividends and share buybacks.
