Santander Consumer USA’s board of directors has authorized a plan to buy back $400 million of company stock this quarter, according to a May 24 Securities and Exchange Commission filing. The announcement comes on the heels of an inaugural $200 million share-repurchase program completed in January.
The Federal Reserve Board of Governors did not object to the repurchase program.
Santander Consumer USA’s stock was trading at $22.87 per share on the New York Stock Exchange at press time. The company has a market capitalization of $8.11 billion.
