Shareholder remuneration

In application of the Bank’s ordinary shareholder remuneration policy, consisting of a total shareholder remuneration target of c. 50% of the Group’s underlying profit¹, split approximately in equal parts in cash dividend payments and share buybacks, the board of directors today approved the payment of an interim cash dividend against 2026 results of 12.7 euro cents per share, equivalent to c. 25% of the Group’s underlying profit² in the first half of 2026.

• The interim cash dividend will be paid from 2 November 2026; and
• The last day to trade shares with a right to receive the interim cash dividend will be 28 October 2026, the ex-dividend date will be 29 October 2026 and the record date will be 30 October 2026.

This distribution, together with the on-going share buyback programme that was announced on 10 August 2026 and commenced on 24 August 2026, represents the interim shareholder remuneration against the Group underlying profit³ in the first half of 2026.

The implementation of the remainder of the 4cy for 2026 is subject to the appropriate corporate and regulatory approvals and decisions.

^{1 2 3} The board of directors intends to: i) apply an ordinary shareholder remuneration policy for 2026 to 2028 results that entails allocating approximately 50% of the Group’s underlying profit (excluding non-cash, non-capital ratios impact items), split approximately evenly between cash dividends and share buybacks for 2026 results; and additionally ii) distribute excess capital at the end of the 2026-2028 period to shareholders. From 2027 results on, the ordinary shareholder remuneration policy is expected to comprise around 35% of Group underlying profit (on the same basis) in cash dividends and around 15% in share buybacks. Execution of the remainder of the ordinary shareholder remuneration policy and of the distribution to shareholders of excess capital at the end of the 2026-2028 period is subject to future corporate and regulatory decisions and approvals.

Further information on shareholder remuneration can be found in the following sections of this website:

• Dividends
• Share buybacks and why they’re important to shareholders
• Prices of latest reinvestments (PDF 160 Kb) (Only available in Spanish)
• The most recent and historical dividend payments are shown in the table below.

Shareholder return