SmarterDividends
SAN

Banco Santander (SAN) Dividend

Banco Santander, S.A. · Financial Services · Banks - Diversified · semiannual payer

$12.05

Undervalued · +36% Add to Portfolio

As of Nov 5, 2026, Banco Santander (SAN) pays a twice-yearly dividend of $0.1440 per share, or $0.29 a year, a 2.38% yield at its $12.05 share price. It pays twice a year, usually in May and November. It has raised its dividend 4 years in a row and has a dividend safety grade of C.

Forward Yield

2.38%

Annual Dividend

$0.29

Payout Ratio

26%

5-Yr Growth

—

Ex-Date

Oct 30, 2026

Frequency

Semiannual

Key facts about SAN's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 5, 2026, Banco Santander, S.A. (SAN) has a forward dividend yield of 2.38%, based on an annual dividend of $0.29 per share and a share price of $12.05.
  • As of Nov 5, 2026, SAN's dividend safety grade from SmarterDividends is C (63 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, Banco Santander, S.A. (SAN) has raised its dividend for 4 consecutive years as of Nov 5, 2026.
  • SAN last cut its regular dividend in 2015.
  • SAN's most recent ex-dividend date was Oct 30, 2026, for a dividend of $0.14 per share.
  • As of Nov 5, 2026, SAN pays out 26% of its trailing 12-month earnings as dividends (its payout ratio).
  • As of Nov 5, 2026, SAN's 2.38% yield is 27% below its five-year average yield of 3.27%.
  • As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for SAN is $16.38 per share, 36% above the $12.05 share price, so SAN screens as undervalued.
  • Banco Santander, S.A. (SAN) pays its dividend semiannual, 2 times a year.
Cite this page

SmarterDividends, "SAN Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/SAN

Is SAN a good dividend stock?

Yes, with caveats

Banco Santander, S.A. (SAN) pays a semiannual dividend yielding 2.38% ($0.29/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 (26%)
  • 260% total price return over 5 years

Risks

  • Cut its dividend in 2015

Key Data

Dividend Yield
2.38%
Payout Ratio
26%
Annual Dividend
$0.29
5-Yr Avg Growth
—
Ex-Dividend Date
Oct 30, 2026
Years of Growth
4
Frequency
semiannual
Beta
0.90
Market Cap
$173.7B
P/E Ratio
11.4
5-Yr Total Return
260%
52-Week Range
$9.96 – $15.05
Dividend Safety
C · 63/100
Ever Cut?
Yes (2015)

SAN dividend changes

Banco Santander, S.A. (SAN) pays a variable dividend: across the 133 payments on record since 1988, 73 were higher than the one before and 47 lower. The latest change was up 16.1% to $0.144 per share, going ex-dividend on Oct 30, 2026.

Ex-dateChangeOld → newMove
Oct 30, 2026Higher$0.124 → $0.144+16.1%
May 4, 2026Higher$0.112 → $0.147+31.2%
Apr 30, 2025Higher$0.103 → $0.124+20.4%
Oct 31, 2024Higher$0.0850 → $0.112+31.8%
Apr 29, 2024Higher$0.0630 → $0.103+63.5%
Oct 31, 2023Higher$0.0560 → $0.0850+51.8%
Apr 27, 2023Higher$0.0570 → $0.0630+10.5%
Apr 28, 2022Higher$0.0330 → $0.0570+72.7%
Oct 29, 2021Lower$0.109 → $0.0560−48.6%
Apr 30, 2021Lower$0.0730 → $0.0330−54.8%
Oct 30, 2019Higher$0.0750 → $0.109+45.3%
Apr 29, 2019Higher$0.0400 → $0.0730+82.5%
Every SAN payment →Download every raise and cut (CSV)
SAN ex-dividend date & scheduleNext ex-date Oct 30, 2026 · full ex-dividend historyView →SAN dividend historyEvery payment, totals by year, raises and cutsView →SAN dividend calculator100 shares pay $29.00 a year, $14.50 every six monthsCalculate →SAN total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is SAN a good dividend stock?

Yes, with caveats. Banco Santander, S.A. (SAN) pays a semiannual dividend yielding 2.38% ($0.29/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.

Is SAN undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, SAN's fair value is about $16.38 versus a $12.05 share price — so it looks undervalued (+36% vs. fair value).

Is SAN's dividend safe?

SAN has a dividend-safety grade of C (63/100), based on its payout coverage, free-cash-flow, 4-year growth streak, a dividend cut in 2015, debt and yield-versus-history.

What is SAN's fair value?

Our blended fair-value estimate for SAN is about $16.38 per share, roughly 36% above the current $12.05 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is SAN a buy, hold, or sell?

We don't issue formal ratings, but on the data SAN screens as "yes, with caveats" and undervalued. Banco Santander, S.A. (SAN) pays a semiannual dividend yielding 2.38% ($0.29/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. This is research for your own analysis, not investment advice.

Will SAN cut its dividend?

SAN earns a dividend-safety grade of C (63/100), and has cut its dividend before (last in 2015). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does SAN pay a dividend?

Yes. Banco Santander, S.A. pays a semiannual dividend of about $0.29 per share annually, a forward yield of roughly 2.38%.

How much dividend does 100 shares of SAN pay?

At $0.29 per share a year, 100 shares of SAN pay $29.00 a year in dividends before tax, about $14.50 every six months. Buying them costs about $1,205 at the Nov 5, 2026 price.

What is SAN's dividend yield?

As of Nov 5, 2026, SAN's forward dividend yield is 2.38%, based on a $0.29 annual dividend and a $12.05 share price.

What is SAN's dividend per share?

As of Nov 5, 2026, SAN pays $0.29 per share per year, distributed on a semiannual basis.

What is SAN's dividend payout ratio?

As of Nov 5, 2026, SAN's payout ratio is 26% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has SAN grown its dividend?

As of Nov 5, 2026, SAN has increased its dividend for 4 consecutive years.

When is the next SAN ex-dividend date?

As of Nov 5, 2026, SAN's next ex-dividend date hasn't been announced. The most recent was Oct 30, 2026, for $0.14 per share.

Income Calculator

At $0.29 / yr per share

Per payment (semiannual)$14.50
Annual$29.00
Monthly avg$2.42
Full SAN dividend calculator →

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