Banco Santander holds its general shareholders’ meeting this Friday, March 31.
The meeting will take place at 10:00 am at the El Solaruco Training Center, in Ciudad Grupo Santander (Boadilla del Monte, Madrid).
Among other re-elections of the board of directors, the shareholders of Banco Santander will vote for the re-election of Ana Botín and the ratification of Héctor Grisi as directors.
Apart from the usual approval of accounts, Banco Santander will also vote on the distribution of a complementary dividend of 5.95 cents per share, which implies a disbursement of 963.4 million euros, which will be added to the interim dividend of 5 .83 cents (979.1 million euros distributed), which the entity chaired by Ana Botín has already distributed previously.
The dividend will be delivered as of May 2, 2023. The last trading day of the share entitled to receive the dividend will be April 26, the share would trade ex-dividend on April 27, and the record date ( record date) will be April 28.
The third item of the day at Banco Santander’s general shareholders’ meeting refers to setting the number of directors on the board of directors at 15, and ratifying the appointment, as well as the re-election, of the CEO, Héctor Grisi. In addition, the ratification and re-election of Silver Lake founder Glenn Hogan Hutchins as an independent director will be proposed.
On the other hand, shareholders must vote for the re-election of Ana Botín as president of Banco Santander, and of the independent directors Pamela Ann Walkden, Sol Daurella, Gina Lorenza Díez Barroso Azcárraga and Homaira Akbari.
The entity will submit to a vote that PwC continues to be, as in the last seven years, the auditor of Banco Santander.
As regards the share capital, Banco Santander will propose to cut it by a maximum amount of 757 million euros, through the redemption of a maximum of 1,514 million own shares. This reduction is included in the program to repurchase its own shares that the entity is carrying out for 921 million euros.
In addition, shareholders will be asked for authorization to carry out another reduction in share capital for a maximum amount of 822 million euros, through the redemption of a maximum of 1,645 million shares. This operation will be carried out in the repurchase programs carried out as part of future shareholder remuneration.
The sixth point of the day of the general meeting of shareholders of Banco Santander refers to the remuneration policy for directors for the years 2023, 2024 and 2025. Among other aspects, it is proposed that the ratio between the variable and fixed components of the remuneration does not exceed 200% for a maximum of 753 employees of the entity.