Santander lifts profitability goal to 15-17%, pay-out to 50% in 3-year strategy

MADRID, Feb 28 (Reuters) - Spain's Santander said connected Tuesday it intends to rise its instrumentality connected tangible equity ratio (ROTE) for the play 2023-2025 to betwixt 15%-17% from a existent 13.37% connected the backmost of higher revenues and involvement rates successful immoderate of its halfway markets successful Europe, specified arsenic Spain, and successful South America.

The lender besides unveiled successful a presumption to the Spanish supervisor a caller dividend pay-out argumentation for the play of 50% of consolidated mean profit, compared to the erstwhile argumentation of 40%.

Santander projected a last currency dividend of 0.0595 euros per share. As a result, the full currency dividend per stock for 2022 volition emergence to 0.1178 euros, a emergence of 18% compared to 2021. It besides announced an further stock buy-back programme of 921 cardinal euros ($974.79 million) aft obtaining regulatory authorization.

The bank's shareholder remuneration against 2022 results would emergence to 3.84 cardinal euros, divided successful adjacent parts successful currency dividend and stock buy-backs.