The board of directors has approved the shareholder remuneration policy for 2021 results with a target of a total shareholder remuneration of c. 40% of the Group’s underlying profit. Such remuneration to be split in equal parts in cash dividend payments and share buybacks for an amount equal to the dividend, payable in November and in May.
The payment of an interim cash dividend against 2021 results of 4.85 euro cents per share, equivalent to 20% of the Group’s underlying profit in the first half of 2021 will be paid from 2 November 2021.
In addition, also in application of such policy, the board has agreed to implement a share repurchase programme for an amount equivalent to 20% of the Group’s underlying profit in the first half of 2021 (i.e. a programme of approximately 841 million euros), for which the Bank has received ECB approval. A further announcement setting out additional information on the terms of the repurchase programme will be made before it commences.
More information is in the Relevant Fact communicated to the CNMV.
*Last 12 months