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MADRID - Banco Santander (BME:SAN) S.A. has reported significant progress in its ongoing share buyback program, having acquired approximately 28.5% of the maximum investment amount allocated for the initiative. Between Monday and the following Sunday, the bank purchased shares worth a total of 452,046,930 euros, which equates to about 13.1% of its outstanding shares as of 2021.
The transactions, part of a buyback program approved by Banco Santander’s Board of Directors and announced on February 5, 2025, were executed across several trading venues. The bank repurchased shares on the XMAD, CEUX, TQEX, and AQEU platforms, with a total of 15,800,000 shares bought from March 6 to March 12, 2025.
The buyback initiative is being conducted under the EU Market Abuse Regulation and Commission Delegated Regulation, ensuring compliance with the securities market legislation. The bank’s buyback program aims to repurchase shares within a specific timeframe and budget, as detailed in the initial announcement.
The average price paid for the shares varied each day, with the lowest weighted average price of 5.8920 euros per share occurring on Wednesday. The highest price paid per share during the week was 6.2659 euros on Monday.
Banco Santander has not disclosed further details regarding the future execution of the buyback program or its long-term strategy for the repurchased shares. The bank’s actions reflect a common corporate strategy to return value to shareholders and potentially increase earnings per share by reducing the number of shares outstanding.
This report is based on a press release statement from Banco Santander, providing an update on the bank’s recent share buyback activities.
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