Banco Santander said on 28 September that it will return some €1.7bn ($1.99bn) to shareholders from earnings this year, through dividend payments and a share buyback, in light of the lifting of European Union recommendations on limits to shareholder remuneration.

The Spanish bank will pay a dividend of 4.85 European cents a share, and will also buy back shares amounting to €841m. The total figure of around €1.7bn amounts to 40% of underlying profit for the first half of the year, the bank said, adding that a further and final remuneration from 2021 earnings will be set out in the first quarter next year.