MADRID - Banco Santander (BME:SAN) S.A. has announced substantial progress in its share buyback program, having acquired approximately 90.8% of the maximum investment amount allotted for the initiative. Between November 21 and November 27, 2024, the bank executed transactions totaling 35,150,000 shares, amounting to 1,384,733,007 euros.
The buyback program, which was first communicated on August 27, 2024, is part of the bank's strategy to manage its capital efficiently. The transactions were carried out across various trading venues including XMAD, CEUX, TQEX, and AQEU, with the weighted average prices of the shares ranging from 4.3461 to 4.4841 euros.
On November 21, Banco Santander purchased shares across four trading venues, with the largest number of shares, 1,059,577, acquired on XMAD at an average price of 4.4717 euros. The following day, the bank significantly increased its activity, purchasing 7,349,754 shares on XMAD at a lower average price of 4.3827 euros.
The bank continued its buying pattern over the next few days, with the largest single-day purchase occurring on November 27, where 7,299,558 shares were bought on XMAD at an average price of 4.3668 euros. These transactions represent a consistent effort by the bank to repurchase its own shares in accordance with regulatory guidelines and within the parameters set by its Board of Directors.
The ordinary shares involved in the buyback have the ISIN code ES0113900J37. Banco Santander has provided detailed information regarding each transaction carried out as part of the buyback program, ensuring transparency and compliance with market regulations.
This series of transactions has been reported in line with the Securities Market legislation, specifically under articles 5 of Regulation (EU) no. 596/2014 on Market Abuse and articles 2.2 and 2.3 of Commission Delegated Regulation (EU) 2016/1052. The bank's actions reflect a systematic approach to capital distribution and a commitment to shareholder value.
The information disclosed is based on a press release statement from Banco Santander and is presented to provide shareholders and the market with key facts regarding the bank's recent financial activities.
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