Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Banco Santander ( (ES:SAN) ) just unveiled an announcement.
Banco Santander has completed a buy-back program, reducing its share capital by 1.76% through the acquisition and cancellation of 267,166,950 shares, valued at EUR 1,587 million. This initiative aims to enhance shareholder value by increasing earnings per share, as the total number of shares decreases, without returning capital to shareholders. The capital reduction has been approved by the European Central Bank and does not require bondholder consent, as per Spanish law. The bank has repurchased a total of 2,455,315,930 shares since November 2021, representing a 14.16% reduction in outstanding shares.
More about Banco Santander
Banco Santander is a leading financial institution in the banking industry, offering a wide range of financial services and products. It focuses on retail and commercial banking, with a significant presence in Europe and the Americas, aiming to provide comprehensive financial solutions to its global customer base.
For detailed information about SAN stock, go to TipRanks’ Stock Analysis page.