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Ordinary dividend charged to 2018 income

Bankia increases the shareholders dividend by 5% to 357 million and shortens the debt repayment period

The dividend distribution proposal allows us to continue advancing in the return of the grants to reach 3,083 million euros.
 

Communication Bankia

By  Communication Bankia

Publish on 
24 January 2019 - 19:15

  • The Board of Directors will propose increasing the dividend to 11.576 euro cents per share against 2018 income, an increase of 5%
  • The dividend will be paid in a single lump-sum cash payment in April
  • The State will receive 219 million euros through its current stake in the Fund for the Orderly Restructuring of the Banking Sector (FROB), signifying that Bankia will have repaid a total of 3,083 million euros of its loans

Bankia's Board of Directors has agreed propose a dividend to the Shareholders’ General Meeting totalling 357 million euros charged to 2018 income, an increase of 5% over the previous financial period.

If approved, the ordinary dividend will be set at 11.576 euro cents per share, a 5% increase with respect to the previous financial period.

This will be the fifth dividend in Bankia’s history, the first of which was disbursed in July 2015, when shareholders shared 1,517 million euros.

The dividend is expected to distributed as a single lump-sum cash payment in April.

The bank has repaid 3,083 million euros of debt to the government

The Fund for the Orderly Restructuring of the Banking Sector (FROB) directly and indirectly holds a 61.4% stake in Bankia through BFA Tenedora de Acciones. If this situation has not changed on the dividend date, the bank will have repaid an additional 219 million euros to taxpayers.

The dividend will mean that the bank can repay its debt to the state earlier than scheduled, and once this payment has been made, the bank will have repaid a total of 3,083 million euros to the FROB, which can be broken down as follows:

  • 1,304 million euros on privatisation of 7.5% of Bankia’s equity in February 2014.
  • 818 million euros with the sale of a further 7% of equity in December 2017.
  • And five dividend payments, representing a total of 961 million euros for the FROB (128 million in 2014, 195 in 2015, 211 in 2016, 208 in 2017 and, when the time comes, 219 million from 2018 profits).

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