BBVA will distribute 723.6 million euros in dividends this Tuesday

MADRID, 9 Oct. (EUROPA PRESS) -

BBVA will distribute this Tuesday, October 11, a dividend, in cash and on account of the results of 2022, of 12 cents per share, which brings the total amount to around 723.6 million euros.

On September 29, the bank announced a 50% increase in its October dividend, up to 12 cents per share, compared to the eight cents paid in October 2021.

"The good results of the entity in the first half of the year support this," the entity highlighted just a week ago.

In November 2021, BBVA improved its shareholder remuneration policy by raising the 'payout' to 40%-50% of profit, from the previous range of 35%-40%.

The implementation of this policy is carried out through two cash payments (one on account and one complementary), which may be combined with share repurchases.

Recently, the bank has completed its share buyback program that began almost a year ago, in November 2021, and which has reached 9.6% of its share capital. This is one of the largest buybacks of European banking shares to date.

In total, BBVA has acquired and redeemed a total of 637,770,016 shares, an operation that has been carried out in several tranches and that has involved a total disbursement of 3,160 million euros.

These repurchases are another modality to reward the shareholder, by reducing the shares available in the market and raising the price of the share. Santander and CaixaBank are the other two Spanish entities that have decided in the last year to use this method, together with the distribution of dividends, to remunerate their shareholders.