BBVA to Return More Than EUR7 Billion to Shareholders for 2021-22
January 17 2022 - 4:00AM
Dow Jones News
By Cristina Roca
Banco Bilbao Vizcaya Argentaria SA plans to distribute more than
7 billion euros ($7.99 billion) to shareholders for 2021 and 2022,
the company's chief executive said Monday.
The Spanish bank plans to distribute the amount, equivalent to
about 20% of its market capitalization, via a EUR3.5 billion
buyback initiated last year and dividends for the two years, Chief
Executive Carlos Torres Vila said.
The company has set a payout policy of about 40%-50% of its
consolidated ordinary profit.
Following the share buyback and assuming BBVA's offer for the
shares it doesn't already own in Turkiye Garanti Bankasi AS is
fully accepted, the company will still have more than EUR2 billion
in excess capital, Mr. Torres Vila said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
January 17, 2022 03:45 ET (08:45 GMT)
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