MADRID - Banco Santander (BME:SAN) S.A. has announced the registration of a public deed for a capital reduction amounting to EUR 170,890,625. This reduction, effective as of December 20, 2024, involved the cancellation of 341,781,250 of its own shares, equating to approximately 2.21% of the bank's share capital.
Following this move, the bank's share capital now stands at EUR 7,576,246,161, split into 15,152,492,322 shares with a nominal value of EUR 0.50 each. These shares are of the same class and confer equal rights to their holders.
The capital reduction is part of Banco Santander's ongoing strategy to manage its share capital efficiently. It concludes a series of seven buyback programs conducted against the financial results of 2021, 2022, 2023, and the first half of 2024. Since November 2021, the bank has repurchased and subsequently retired about 12.62% of its shares, totaling 2,188,148,980 shares, which has led to an accumulated share capital reduction of EUR 1,094,074,490.
This latest financial maneuver by Banco Santander is a continuation of the bank's efforts to optimize its capital structure and deliver value to its shareholders. The registration of the capital reduction with the Commercial Registry of Santander marks the completion of this particular phase of the bank's capital management plan.
The information about the capital reduction is based on a press release statement from Banco Santander and has been officially communicated to the Spanish National Securities Market Commission. The bank, a significant player in the global banking sector, has made these details available in compliance with Securities Market legislation. The London Stock Exchange (LON:LSEG)'s news service RNS, approved by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280), has disseminated the information, underscoring the regulatory transparency of the process.
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