TIDMBNC

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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