CaixaBank executes almost 8% of its share buyback program

MADRID, 30 May. (EUROPA PRESS) -

CaixaBank has already acquired 44.26 million shares for 142.6 million euros, which represents 7.92% of the maximum amount authorized for the repurchase of 1,800 million euros, as announced this Monday through a notification to the National Securities Market Commission (CNMV).

CaixaBank has notified this Monday that, between May 23 and 27, it has bought 25.87 million own shares for an amount of 85.76 million euros.

Thus, the bank has repurchased, since the beginning of the program on May 17, a total of 44.26 million shares for an amount of 142.6 million euros, 7.92% of the maximum authorized amount of 1,800 millions of euros.

The average price of the acquisitions is 3.2 euros per share, compared to the current price of Caixabank shares, which is 3.39 euros per share.

CaixaBank has already announced that this program will not exceed 10% of the bank's share capital, its maximum duration will be 12 months and the manager chosen to execute the purchases is Morgan Stanley Europe SE.

The acquisitions are being made in the Spanish Stock Exchange Interconnection System-Mercado Continua, as well as in DXE Europe, Turquoise Europe and Aquis Exchange.

This repurchase program is included within the remuneration provided for in the Strategic Plan that the entity has designed for the 2022-2024 period, presented on May 17. Specifically, CaixaBank plans to generate around €9,000 million of capital that it plans to distribute among shareholders until 2024 through cash dividends and repurchase programs.

During the presentation of the plan, the CEO of the entity, Gonzalo Gortázar acknowledged that the bank's intention is that this repurchase of 1,800 million euros is not the last, but the way in which those 9,000 million euros could be distributed will be a decision to be taken by the board of directors in the future.