BOSTON, June 28, 2019 /PRNewswire/ -- Today,
Santander Holdings USA, Inc. (the
"Company") announced its planned capital actions for the third
quarter of 2019 through the second quarter of 2020, which are
included in its 2019 Capital Plan (the "Capital Plan").
The Company's planned capital actions under the Capital Plan
include common dividends to Banco Santander, S.A., the Company's
sole shareholder, of $125 million per
quarter.
In addition, Santander Consumer USA Holdings Inc. ("SC"), the Company's
majority-owned subsidiary, announced a quarterly cash dividend of
$0.22 per share, an increase from
$0.20 per share, and an authorization
to repurchase up to $1.1 billion of
SC's outstanding common stock (the "Share Repurchase Program")
through the end of the second quarter of 2020.
The timing and amount of any dividends, stock repurchases and
any other capital actions will depend on a variety of factors,
including the business plans and financial performance of the
Company and its subsidiaries, general market and economic
conditions, and other factors, and are subject to any applicable
regulatory requirements and approval by the Company's board of
directors. SC's Share Repurchase Program may be executed through
open market purchases, in privately negotiated transactions and/or
through repurchase plans designed to comply with Rule 10b5-1 of the
Securities Exchange Act of 1934. The Share Repurchase Program
does not obligate SC to acquire any particular amount of common
stock, and it may be suspended or discontinued at any time.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any statements about our expectations, beliefs, plans, or
future events are not historical facts and may be forward-looking.
These statements are often, but not always, made through the use of
words or phrases such as "anticipates," "believes," "can," "could,"
"may," "predicts," "potential," "should," "will," "looking
forward," "would," "hopes," "assumes," "estimates," "plans,"
"projects," "continuing," "ongoing," "expects," "intends," and
similar words or phrases. Although we believe that the expectations
reflected in these forward-looking statements are reasonable as of
the date on which the statements are made, these statements are not
guarantees of future performance and involve risks and
uncertainties that are subject to change based on various important
factors and assumptions, some of which are beyond our control.
Among the factors that could cause actual results to differ from
those reflected in forward-looking statements include, without
limitation, the risks and uncertainties described in the Company's
filings with the Securities and Exchange Commission. New risks and
uncertainties emerge from time to time, and it is not possible for
the Company to predict all risks and uncertainties that could have
an impact on the forward-looking statements contained in this press
release. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by the
Company or any other person that the Company's expectations,
objectives or plans will be achieved in the timeframe anticipated
or at all. Readers are cautioned not to place undue reliance on the
Company's forward-looking statements, and the Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Any forward-looking
statements only speak as of the date of this press release, and we
undertake no obligation to update any forward-looking information
or statements, whether written or oral, to reflect any change,
except as required by law. All forward-looking statements
attributable to us are expressly qualified by these cautionary
statements.
Santander Holdings USA, Inc.
(SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
(Santander), with more than 144 million customers in the U.S.,
Europe and Latin America. SHUSA is the parent company of
six financial companies with approximately 17,000 employees, 5.2
million customers and assets of over $154.6
billion. These include Santander
Bank, N.A.; Santander Consumer USA Holdings Inc. (NYSE: SC); Banco Santander
International of Miami; Banco
Santander Puerto Rico; Santander Securities LLC of Boston; and Santander Investment Securities
Inc. of New York, and several
other subsidiaries.
Financial Contact:
Andrew
Withers
617-757-3524
awithers@santander.us
Media Contact:
Laurie Kight
Santander Holdings
617-757-5891
laurie.kight@santander.us
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SOURCE Santander Holdings USA,
Inc.