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Bankia is paying a cash dividend of 2.756 euro cents per share, increasing the amount of financial support that has been repaid to €1.838 billion
31 March 2017
- The State has received €211 million through BFA
- The bank’s chairman, José Ignacio Goirigolzarri, explained that payment of this dividend “is great news because it demonstrates Bankia’s financial strength, it is 5% higher than the previous year and allows us to continue repaying the financial support”
Bankia today paid a gross dividend of 2.756 euro cents per share, in cash, charged against profits for 2016, representing a 5% increase on the amount distributed last year.
The financial institution is therefore distributing a total of €317 million among its shareholders, which represents a pay-out of 39.5% (percentage of profits distributed as a dividend).
This is a 57.7% increase in shareholder remuneration since Bankia paid its first dividend of 1.75 euro cents per share in July 2015, despite the difficult environment facing the financial sector.
José Ignacio Goirigolzarri, Bankia’s chairman, explained that the distribution of the third dividend in the bank’s history “is great news for three reasons. Firstly because it demonstrates Bankia’s financial strength; secondly because it is 5% higher than the previous year; and thirdly because it enables us to continue repaying the financial support received from the taxpayer”.
€211 million more for the taxpayer
BFA, which is 100% State-owned through the FROB, is Bankia’s largest shareholder with a current holding of 66.44%. The dividend payment on this shareholding enables the bank to repay an additional €211 million to the taxpayer.
Following this payment, the State will have recovered a total of €1.838 billion, taking into account the amount earned from privatising a 7.5% stake in Bankia in February 2014 which generated €1.304 billion, and the combined dividends paid out to date which total €534 million.
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