Santander approves interim dividend of 0.0583 euros per share against 2022 results

MADRID (Reuters) - Spain's Santander board approved on Tuesday an interim cash dividend against 2022 results of 0.0583 euro per share, equivalent to around 20% of the group's underlying profit in the first half of 2022, the lender said.

The cash dividend represents an increase of around 20% compared with the interim 0.0485 euro per share paid against 2021 results.

Santander's dividend policy consists of a remuneration target of around 40% of the group's underlying profit, split in equal parts in cash dividend payments and share buybacks.

The interim dividend would be paid from Nov. 2 and the last day to trade shares with a right to receive the interim dividend will be Oct. 28.

The board also agreed to implement a share repurchase programme equivalent to about 20% of the group's underlying profit in the first half of 2022 or around 979 million euros ($939.55 million).

The lender said it would set out the terms of the share repurchase plan before it starts.

It also said the implementation of the remainder of the shareholder remuneration policy for 2022 was subject to regulatory approvals.

($1 = 1.0420 euros)

(Reporting by Jesús Aguado; Editing by Catarina Demony and Jonathan Oatis)