BBVA bank logo is pictured in Seville, southern Spain March 14, 2016. REUTERS/Marcelo del Pozo/File Photo
MADRID, Jan 17 (Reuters) – Spain’s BBVA (BBVA.MC) expects to distribute more than 7 billion euros ($8 billion) to shareholders in 2021 and 2022, around a fifth of its current market capitalization, chairman Carlos Torres said in a post on the Spanish bank’s website on Monday.
Torres said the amount included a 3.5 billion euros share buyback already announced by the bank, of which the first 1.5 billion euros tranche is underway. read more
It also includes the expected dividends for the two years, applying the bank’s new policy of paying out 40-50% of profit, and based on analysts’ consensus profit estimate, the chairman said in the post.
Torres added the bank was open to additional investments and shareholder distributions “in order to be within our target range, with a capital ratio between 11.5 and 12 percent in 2024.”
($1 = 0.8757 euros)Reporting by Jesús Aguado Editing by Inti Landauro and Mark Potter
This article was originally published by Reuters.
Riyadh Air is preparing to expand its presence in India beyond Mumbai, with the Saudi…
The AIM Global Foundation increased its momentum in interacting with the Indian investment community and…
Sales transactions in Dubai's office market totaled Dh15.8 billion in the first six months of…
New fäm Properties report shows 90%-100% absorption rate for thousands of apartments and villas to…
During the meeting, President Kast signed the FIA’s United Against Online Abuse charter Dubai, UAE,…
The IMF approved today a successor two-year arrangement for Chile under the Flexible Credit Line…