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Santander Consumer Reports $1.1B Buyback, raises Quarterly Dividend From $0.20 To $0.22/Share

Benzinga Newsdesk

Today, Santander Consumer USA Holdings lnc. (NYSE: SC) (the "Company") announced its planned capital actions for the third quarter of 2019 through the second quarter of 2020, which are included in the 2019 Capital Plan (the "Capital Plan") of Santander Holdings USA, Inc. ("SHUSA"), the majority stockholder of the Company.

The Company's planned capital actions under the Capital Plan include:

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 the Company's outstanding common stock (the "Share Repurchase Program") through the end of the second quarter of 2020.
The Share Repurchase Program, which has been authorized by the Company's and SHUSA's boards of directors, is in addition to the Company's previously announced $400 million share repurchase program, which concluded with the repurchase of $86.8 million of the Company's common stock.

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