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MADRID - Banco Santander (BME:SAN) S.A. has made significant progress in its share buyback program, having repurchased approximately 13% of its outstanding shares since 2021. The bank has spent a total of 356,949,370 euros on the program as of Sunday, representing about 22.5% of the maximum allocated funds.
The transactions, part of an initiative first announced on February 5, 2025, took place from Monday, February 27 to Sunday, March 5, 2025. During this period, Banco Santander acquired 12,400,000 of its own shares through various trading venues including XMAD, CEUX, TQEX, and AQEU.
The buyback program is being conducted under the regulatory framework of Regulation (EU) no. 596/2014 on Market Abuse and Commission Delegated Regulation (EU) 2016/1052. These regulations ensure that the bank operates within the legal parameters for such financial activities.
The average weighted prices for the shares bought ranged from 5.9886 euros to 6.2624 euros. The largest single-day purchase occurred on Thursday, with the bank acquiring over 3 million shares at an average price of 6.0114 euros.
The bank’s initiative to repurchase its own shares is a maneuver often used by companies to reduce the number of shares available on the market, which can increase the value of remaining shares and return value to shareholders.
This information, detailed in the bank’s latest regulatory filing, is based on a press release statement and provides an update on the ongoing execution of Banco Santander’s buyback program. The bank, headquartered in Boadilla del Monte, Madrid, has disclosed all relevant transactions as per the legal requirements, offering transparency to its investors and the broader market.
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