Santander Brasil Launches New Buyback Program for 36.2M Units/ADRs

TL;DR

**Santander Brasil just approved a new buyback for 36.2M shares, signaling confidence and potential stock upside.**

AI Summary

Banco Santander (Brasil) S.A. announced on February 5, 2024, that its Board of Directors approved a new share buyback program. This program allows the company to repurchase up to 36,205,005 Units, which represent 36,205,005 common shares, and ADRs. This matters to investors because share buybacks can reduce the number of outstanding shares, potentially increasing earnings per share and the value of existing shares, signaling management's confidence in the company's valuation.

Why It Matters

A share buyback program can boost shareholder value by reducing the number of shares available, which often leads to higher earnings per share and stock price appreciation.

Risk Assessment

Risk Level: low — This filing announces a share buyback program, which is generally seen as a positive action for shareholders and does not introduce significant new risks.

Analyst Insight

A smart investor would view this buyback program as a positive signal of management confidence and a potential catalyst for stock appreciation, warranting further research into the company's fundamentals and market conditions.

Key Numbers

• 36,205,005 — Units/common shares (the maximum number of Units and common shares Banco Santander (Brasil) S.A. is authorized to repurchase under the new program)

Key Players & Entities

• Banco Santander (Brasil) S.A. (company) — the registrant announcing the buyback program
• Board of Directors (company) — approved the new buyback program
• Cayman (company) — location of a branch through which buybacks may occur
• 36,205,005 (dollar_amount) — maximum number of Units/common shares to be repurchased

Forward-Looking Statements

• The share price of Banco Santander (Brasil) S.A. will see upward pressure due to reduced share count. (Banco Santander (Brasil) S.A.) — medium confidence, target: next 6-12 months

FAQ

Filing Documents

• bsbr20240205_6k.htm (6-K) — 14KB
• bsbr202402056k_001.jpg (GRAPHIC) — 3KB
• 0001292814-24-000297.txt ( ) — 19KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February, 2024 Commission File Number: 001-34476 BANCO SANTANDER (BRASIL) S.A. (Exact name of registrant as specified in its charter) Avenida Presidente Juscelino Kubitschek, 2041 and 2235 Bloco A – Vila Olimpia So Paulo, SP 04543-011 Federative Republic of Brazil (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ___X___ Form 40-F _______ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes _______ No ___X____ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes _______ No ___X____ Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: Yes _______ No ___X____ If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A [Free English Translation] BANCO SANTANDER (BRASIL) S.A. Public Company of Authorized Capital Corporate Taxpayer ID (CNPJ/MF) nº 90.400.888/0001-42 Company Registration (NIRE) 35.300.332.067 MATERIAL FACT BANCO SANTANDER (BRASIL) S.A. ("Company") informs that, the Company's Board of Directors approved, in sequence of the buyback program that expires today, a new buyback program of Units and ADRs issued by Banco Santander, directly or through its branch in Cayman, to be held in treasury or subsequently sold. The Buyback Program will cover the purchase of up to 36,205,005 Units, representing 36,205,005 common shares and 36,205,005 preferred shares, or ADRs, corresponding, on December 31 st , 2023, to approximately 1% of the Company´s total capital stock. On December 31 st , 2023, the Company held 27,192,697 common shares and 27,192,697 preferred shares in treasury. The buyback has the purpose (1) to maximize the value creation to shareholders by means of an efficient capital structure management; and (2) to enable the payment of officers, directors, management level employees and other employees of the Company and companies under its control, pursuant to the Long Term Incentive Plans. The Units must be purchased in B3, at market price, through Santander Corretora de Câmbio e Valores Mobiliários S.A. The ADRs must be purchased in the New York Stock Exchange (NYSE), at market price, through Santander Investment Securities Inc., U.S. The term of the Buyback Program is eighteen (18) months counted from February 6 th , 2024, expiring on August 6 th , 2025. São Paulo, February 5, 2024. Gustavo Alejo Viviani Investor Relations Officer SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. Date: February 5, 2024 Banco Santander (Brasil) S.A. By: / S / Reginaldo Antonio Ribeiro Reginaldo Antonio Ribeiro Officer without specific designation By: / S / Gustavo Alejo Viviani Gustavo Alejo Viviani Vice - President Executive Officer

View Full Filing

View this 6-K filing on SEC EDGAR