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Santander UK plans to close 95 branches, impacting around 750 jobs, while introducing 18 counter-free and 36 reduced-hours branches, alongside 290 full-service locations and five Work Cafés. Despite the closures, 93% of the UK population will remain within 16km of a branch, with over 11,000 Post Office branches available for banking services. The bank cites a significant shift towards digital banking, with a 63% increase in digital transactions since 2019, prompting the need to adapt its branch network.
Verizon and Santander Bank have launched a high-yield savings account for Verizon customers, offering up to $180 off their bill annually and an interest rate ten times the national average. The account features no fees, low minimum deposits, and 24/7 access to funds, enhancing Verizon's financial services. Starting in April, customers can register online or via the MyVerizon app, with plans for additional banking products in 2025.
Banco Santander has advanced its share buyback program, purchasing shares worth 512 million Euros, which accounts for 32.3% of the program's maximum investment. Since 2021, the bank has repurchased approximately 13.1% of its outstanding shares to optimize its capital structure and enhance shareholder returns.
Banco Santander, S.A. offers a range of financial services, including demand and time deposits, loans, and corporate finance solutions. Recently, institutional investors have increased their stakes, with the stock receiving a "Buy" rating from several analysts, despite not being among the top recommended stocks. The company declared a semi-annual dividend of $0.1152 per share, reflecting a yield of 2.4%, up from the previous $0.08.
The Development Bank of Kazakhstan (DBK) has secured a framework agreement with Banco Santander for up to €400 million (approximately $434 million) to finance infrastructure and energy projects involving international exporters. Over the past year, DBK has borrowed around $1.96 billion, initially relying on Chinese banks before shifting to European lenders, including recent agreements with German banks and Italian institutions.
UMH Properties, Inc., a public equity REIT operating 135 manufactured home communities across several states, has a dividend payout ratio of 2,866.67%. Recently, Zurcher Kantonalbank increased its stake in the company by 64.7%, while analysts maintain a Moderate Buy rating, with a consensus price target of $21.25. The firm reported a quarterly EPS of $0.24, exceeding estimates, and declared a quarterly dividend of $0.215 per share, yielding 4.71%.
Spanish sports-tech startup Playtomic has secured a valuation of €250 million (US$273 million) after raising €55 million (US$59.79 million) in equity and obtaining a €10 million (US$10.9 million) loan from Banco Santander. The company, which offers a mobile app for booking racket sports courts, aims to expand globally, focusing on the United States, Britain, and Germany. Currently, Playtomic collaborates with 6,000 clubs across 63 countries and boasts 1.5 million active users monthly.
Verizon has partnered with Santander Bank to introduce the Verizon + Openbank Savings account, offering a high yield savings rate 10 times the national average and potential savings of up to $180 annually on Verizon bills. Customers can sign up easily through Verizon's website or app, gaining access to a secure digital banking experience with no fees and 24/7 support. This initiative aims to enhance financial services for Verizon's mobile and 5G Home customers while expanding Santander's U.S. presence.
The BNP Paribas Open in Indian Wells, California, saw record attendance of over 504,000, crowning 17-year-old Mirra Andreeva as the women's champion after her comeback victory against world No. 1 Aryna Sabalenka. Jack Draper claimed his first ATP Masters 1000 title by defeating Holger Rune in the men's final. The tournament, which has evolved significantly since its inception in 1976, continues to attract families and a younger fan base, bolstered by a long-term sponsorship extension from BNP Paribas.
Banco Santander has received an upgrade from StockNews.com, moving from a "hold" to a "buy" rating, with a consensus rating of "Buy" among analysts. The bank reported a quarterly EPS of $0.21, meeting expectations, and announced an increased semi-annual dividend of $0.1152, reflecting a 2.4% yield. Recent trading activity showed a significant rise in call options, indicating heightened investor interest.
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