BBVA distributes a dividend of 723.6 million euros on October 11

The bank continues to announce dividend distribution rain, after years ago, when the European Central Bank prohibited paying shareholders due to Covid.

Thomas Osborne
Thomas Osborne
29 September 2022 Thursday 11:37
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BBVA distributes a dividend of 723.6 million euros on October 11

The bank continues to announce dividend distribution rain, after years ago, when the European Central Bank prohibited paying shareholders due to Covid. Yesterday, it was BBVA's turn, which announced that it will disburse 723.6 million on October 11. Its shareholders will receive an interim dividend of 12 euro cents per share, which is 50% more than the 8 cents paid in October 2021.

The bank chaired by Carlos Torres already announced in November last year that it was going to increase the payout to 40-50% of profit, from the previous range that was between 35-40%. The bank clarifies that the implementation of this dividend policy will be carried out through two cash payments (one on account and another complementary), which may be combined with the repurchase of shares.

This 50% increase in the distribution of dividends is supported by the net profit of 3,000 million in the first half of this year.

Along the same lines, Santander announced this week that it was going to pay 979 million euros in dividends on November 2, also charged to its results for the first half, when it earned 4,894 million.

Precisely, the good results of banking in general in the first semester have led the unions to propose wage increases to the banking employers. Representatives of AEB, the employers of entities such as BBVA, Santander, Sabadell, Bankinter, sat down yesterday with representatives of UGT, CCOO and Fine, within the framework of the sectoral observatory, since the unions demand salary increases due to the loss of purchasing power of recent years, plus current inflation. Those negotiations affect 81,000 employees.

For their part, the representatives of CECA (employers to which entities such as CaixaBank, KutxaBank, Ibercaja, Unicaja... among others belong) will sit down with the unions on October 4 to discuss the same matter. In this case, those affected are 57,000 bank employees. In both cases, bank employees ask not to lose purchasing power, although the sectoral agreement does not expire until January 1, 2024.