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Bankia Distributes €202 Million in First Dividend Ever

07 July 2015

Category: Corporate

  • BFA, wholly owned by the Spanish State, receives €128 million, marking a new step in reimbursing taxpayers for the aid received
  • Bankia shareholders receive the dividend in cash

Bankia has today paid out the first dividend in its history, distributing a total of close to 202 million euros. Some 128 million euros of this amount has been received by BFA, a company wholly owned by the Spanish government.

The dividend was 1.7578 euro cents per share, with shareholders receiving 1.40624 euro cents per share after the required tax withholding. The dividend has been paid in cash.

BFA is the biggest shareholder in Bankia, with a 63.3% stake. The dividend distribution thus marks a step in returning the aid received from taxpayers, given that 100% of the BFA's capital is held by the FROB.

The 128 million euros received by BFA come on top of the 1,304 million euros Bankia's parent company obtained in February 2014 when it sold a 7.5% shareholding in the bank.

The chairman of BFA and of Bankia, José Ignacio Goirigolzarri, observed that "this is a very important day for the group, as paying out the dividend represents one more step in normalising the bank's situation".

"Paying dividends means many things: first, that Bankia is profitable, with a recurring and sustainable earnings; second, that Bankia is a very solvent bank as it has received the go-ahead from the authorities to pay this dividend and to pay in in cash", Goirigolzarri added.

"What is more", he continued, "for Bankia the dividend distribution is key because it means repaying aid received from taxpayers. It is one more step, perhaps small but significant, made possible by the efforts and commitment of all of us who are working in Bankia to generate value for all our shareholders and continue returning the aid received".

"Just a little over two years after the bank was recapitalised in late May of 2013, Bankia has begun its privatisation and is now paying out dividends to its shareholders, milestones achieved in such a short time frame by no other bank that has gone through our same situation", concluded the Bankia chairman.

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