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Dividend payments, good news for Bankia shareholders and non-shareholders

The entity will allocate 355 million euros, which is equivalent to 6.1% of dividend yield, and advances in the return of aid up to 3,303 million euros.
 

Communication Bankia

By  Communication Bankia

Publish on 
28 January 2020 - 17:45

Bankia has announced that it will propose to its Shareholders General Meeting the payment of a dividend of 11,576 euro cents per share from the 2019 turnover, the sixth highest value in its history. This entails maintaining the dividend per share from the previous year, but raising its pay-out (percentage of return allocated to shareholder remuneration) to 65%, which makes it possible to continue advancing in the repayment of the aid received by the entity.

For this, the bank will allocate 355 million euros, which is equivalent to a 6.1% dividend return (calculated based on the 2019 closing price), and goes one step further in repaying aid to taxpayers, as explained by the president of Bankia, José Ignacio Goirigolzarri, at the press conference to present the closing results of 2019.

Bankia aid repayment proposed dividend 2019

Good news for Bankia shareholders...

This dividend will be submitted for approval at the next Shareholders General Meeting in Valencia. Upon approval, the shareholders will receive the dividend in cash and in a single payment.

Paying dividends is important for a company because it is a sign that it has obtained profits and has not incurred losses during the year. It is also important because it remunerates capital. That is, the owners of the company earn a return for investing in it.

…and for non-shareholders

That Bankia continues, one more year, delivering dividends is also great news for Spanish taxpayers, even if they are not direct shareholders of the entity.

The reason for this is that, at present, the Bank Restructuring Order Fund (FROB) has a 61.8% stake in Bankia, directly and indirectly, through BFA. If that shareholding is maintained on the date of the dividend payment, BFA will receive 220 million euros, bringing the total amount returned to taxpayers to 3.303 billion euros, of which 2.122 billion correspond to the two capital sale transactions. (in February 2014 and December 2017) and the remaining 1.181 billion euros, to the six dividends distributed by the bank since July 2015.

This way, the distribution of the dividend allows Bankia to continue making progress in repaying the aid received. Once the payment is made, the entity will have returned a total of 3.303 billion euros to the FROB, broken down as follows:

  • 1.304 billion euros with the privatisation of 7.5% of Bankia's capital carried out in February 2014.
  • 818 million with the sale of 7% of the capital that took place in December 2017.
  • And the payment of six dividends, which reach a total amount for the FROB of 1.181 billion euros (128 million corresponding to the 2014 financial year; 195 to 2015; 211 to 2016; 208 to 2017; 219 to 2018 and, when the time comes, 220 to 2019).

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