Banco Santander to Pay Interim Cash Dividend, Names Hutchins as Vice Chair

By Denny Jacob

Banco Santander's board stated plans to pay an interim cash dividend as well as an independent director appointment.

The bank will pay an interim cash dividend against its 2023 results of 8.10 European cents (86 cents), a 39% increase compared with a year earlier. The interim dividend will be paid on Nov. 2.

The board also agreed to executive a share-repurchase program for about 1.31 billion euros ($1.39 billion) pending regulatory approval.

Santander's board appointed Glenn Hutchins as vice chair and lead independent director, effective Oct. 1. Hutchins, who joined Santander's board in 2022 as a non-executive director, will replace Bruce Carnegie-Brown, who will retire from the board in 2024 after more than nine years, the company said.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

09-26-23 1528ET