BBVA increases the dividend by 33%, to 0.16 euros per share

2023-09-27 20:56:14

The BBVA board of directors agreed this Wednesday to pay a dividing on account of the 2023 results of 0,16 euros per share in cash, a 33.3% more than the 0.12 euros paid last year, which already represented an increase of 50% compared to 2021. The payment will be made on October 11th and in net – once the mandatory 19% tax withholding has been applied – it will be 0,1296 euros by title. The bank won 3,878 million of euros in the first half of this year, a 31.1% more than a year before, thanks to improved income, especially in Spain and Mexico.

In November 2021, the entity of Basque origin raised the percentage of your profits annually that distributes to its shareholders in the form of a dividend from the 35% 40% which established in 2017 up to a range of between 40% and 50%. The group pays an interim dividend against the results of each year in October and a complementary dividendonce the exercise is finished, normally in April.

The entity also reserved to combine said dividend distributions with the share buybacks, operations that increase the value of the shares by distributing the value of the bank among a smaller number of securities. Last July, in fact, he announced that he had requested to the European Central Bank (BCE) the authorization to carry out a new repurchase for the amount of 1 billion of euros. Regarding the part of the profit that does not go to the shareholder, the bank assures that “it is used largely for strengthen capacity of BBVA to grant credit” (by retaining it as capital).

Since 2021, the entity has distributed to its shareholders 8.2 billion euros between dividends and share buybacks. If the announced interim dividend for 2023 is added to this amount, the figure would rise to more than 9 billion. “We are firmly committed to maintaining a attractive and sustainable remuneration in time for our near 800,000 shareholdersmany of them families and savers“said its president, Carlos Torres Vilait’s a statement.

The bank has also highlighted in its note that it is “creating value” for its shareholders thanks to its rise in bag. From January 2021 until the close of September 26, he highlighted, its stock has revalued by 85%“well above” their Spanish (53%) and European (47%) peers.