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Bankia pays a cash dividend of more than €300 million today

31 March 2016

Category: Corporate

  • Some €195 million will go to BFA, which is 100% state-owned, bringing the total amount repaid to taxpayers to €1.627 billion
  • The dividend is 2.625 euro cents per share, 50% more than the 1.75 cents paid out last year
  • “This decision reflects the strength of the bank’s solvency and the recurrent performance of the income statement”, said Bankia’s chairman, José Ignacio Goirigolzarri

Today Bankia is paying the second dividend in its history, to which it has allocated more than €300 million charged against the bank’s profits for 2015 and some 50% higher than the amount paid out last year.

The dividend is 2.625 euros cents per share, compared to 1.75 euro cents distributed in 2015, which was also paid in cash.

The distribution of this dividend means that the bank continues to repay taxpayers for the aid it received, as BFA –which is 100% owned by the Fund for Orderly Bank Restructuring (FROB)– is Bankia’s largest shareholder with a 64.47% stake.

This investment entitles the State to receive €195 million, bringing the total amount repaid to date to €1.627 billion, following payment of the €128 million dividend last year and the sale of a 7.5% stake in the bank for €1.304 billion.

“It is enormously satisfying for us to pay our shareholders a new dividend, which in this case is 50% higher than last year’s payment. This decision reflects the strength of the bank’s solvency and the recurrent performance of the income statement”, said Bankia’s chairman, José Ignacio Goirigolzarri.

“For the second consecutive year, the dividend payment represents further progress in Bankia’s return to normality and, more importantly, another step in repaying the public funds it received", he added.

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