2023-10-28 10:00:00
BBVA has already carried out 34.5% of the share buyback that it began at the beginning of October after investing 345 million euros to acquire 45 million of its own securities, according to the information that the ‘blue bank’ sent this week to the National Stock Market Commission (CNMV).
In its third week, it has purchased 15 million shares for 114 million euros at an average price of 7.66 euros and intends to carry out this program with the acquisition of three million shares daily, until reaching the target amount of 1,000 million. of euros.
Specific, BBVA will be in charge of executing the buyback in the Spanish Continuous Market and in DXE Europe, in which the entity has set a daily objective of buying 2,500,000 and 500,000 shares, respectively.
This is one of the ways that banks are choosing to remunerate shareholders, different from the traditional distribution of the dividing.
In this sense, BBVA’s policy contemplates a ‘pay-out’ (percentage of profit that goes to shareholders) of between 40% and 50% of the profit, between cash dividends and possible share buybacks additional.
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