The six listed Spanish banks to pay out seven billion in dividends in one month

Spanish Banks

More than five million shareholders of Spanish listed banks will receive more than €7,000 million in dividends in the coming weeks, according to Expansión newspaper. CaixaBank leads the ranking in terms of amount, with more than €2,890 million that will be distributed among its investors. It is followed by BBVA, with more than €2,200 million and Santander, which climbs to third place on the podium, with €1,500 million. Medium-sized institutions such as Sabadell, Unicaja and Bankinter distributed between €163 million and €97 million.

These payments (one-off or supplementary payments charged to 2023), crown a record year in results that has boosted the sector’s share price by 23% since January. Strong profit growth in 2023 has led the sector to bet on a sharp increase in cash payments, coupled with an avalanche of share buybacks, adding extra profitability.

This week it is the turn of Bankinter, which on Thursday will distribute €0.107 gross per share as a supplementary payment for 2023 results. This is 20.6% more than the same payment a year earlier.

CaixaBank will give its investors €2,890 million on 3 April by paying out the €0.39 expected to be charged in 2023 as a one-off payment. The bank is up 27.17% on the stock market this year and its dividend yield is up more than 9%. In addition, it has announced a share buyback programme for a maximum amount of 500 million shares.

BBVA has also launched a share buyback plan for an amount of 781 million shares. In addition, it will pay a final dividend charged to 2023 of €0.39 euros in cash on 10 April to those who are shareholders at the close of trading on Friday 5 April.

Sabadell’s more than 213,000 shareholders will get their turn on 18 April, when the distribution of €0.03 euros gross per share is scheduled as a supplementary payment for 2023. Investor remuneration will be completed with a share buyback of up to 340 million shares.

Unicaja will pay out €0.049 gross per share as a one-off payment on 19 April, 3% more than a year earlier. The bank will pay out €132 million, 50% of its profit for 2023, which is completed with a share buyback of €100 million.

Santander closed the bank’s payments with a complementary payment of €0.095 gross per share for 2023 on May 2, in addition to the €0.081 paid on account last November. The bank with the largest number of shareholders (3.7 million) achieved a record profit of more than €11 billion in 2023. To this is added a share buyback of 1.5 billion shares.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.