Banco Santander, S.A.
SANFinancial Services · Stock · semiannual payer
Forward Yield
1.94%
Annual Dividend
$0.28
Payout Ratio
25%
5-Yr Growth
—
Ex-Date
May 4, 2026
Frequency
Semiannual
Summary
As of September 2026, Banco Santander, S.A. (SAN) yields 1.94% ($0.28 per share annually), with a blended fair-value estimate of $19.81 — +38% upside, so it screens as undervalued. Dividend safety grade: C (63/100). 4 years of dividend growth.
Is SAN a good dividend stock?
Yes, with caveatsBanco Santander, S.A. (SAN) pays a semiannual dividend yielding 1.94% ($0.28/yr), with 4 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (25%)
- 278% total price return over 5 years
Risks
- Cut its dividend in 2015
Key Data
- Dividend Yield
- 1.94%
- Payout Ratio
- 25%
- Annual Dividend
- $0.28
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- May 4, 2026
- Years of Growth
- 4
- Frequency
- semiannual
- Beta
- 0.93
- Market Cap
- $207.6B
- P/E Ratio
- 14.2
- 5-Yr Total Return
- 278%
- 52-Week Range
- $9.62 – $15.05
- Dividend Safety
- C · 63/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
SAN Price — Last 12 Months
Daily close
Price Return
1 Year
+41%
3 Years
+294%
5 Years
+278%
52-Week Range
$9.62 – $15.05
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is SAN worth?
Undervaluedlow confidenceOur blended fair-value estimate for Banco Santander, S.A. is $19.81 per share, versus a market price of $14.31. That implies 38% of upside — a margin of safety of about 28%.
Fair Value
$19.81
Current Price
$14.31
Upside
+38%
Margin of Safety
28%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.0% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $1.01 EPS, $0.28 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
SAN Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 4, 2026 | — | $0.1470 | regular |
| Apr 30, 2025 | — | $0.1240 | regular |
| Oct 31, 2024 | — | $0.1120 | regular |
| Apr 29, 2024 | — | $0.1030 | regular |
| Oct 31, 2023 | — | $0.0850 | regular |
| Apr 27, 2023 | — | $0.0630 | regular |
| Oct 31, 2022 | — | $0.0560 | regular |
| Apr 28, 2022 | — | $0.0570 | regular |
| Oct 29, 2021 | — | $0.0560 | regular |
| Apr 30, 2021 | — | $0.0330 | regular |
| Oct 30, 2019 | — | $0.1090 | regular |
| Apr 29, 2019 | — | $0.0730 | regular |
| Jan 30, 2019 | — | $0.0750 | regular |
| Oct 16, 2018 | — | $0.0400 | regular |
Income Calculator
At $0.28 / yr per share
