In application of the shareholder remuneration policy for 2022, in November the bank paid a cash dividend of EUR 5.83 cents per share (pre-tax) charged to 2022 results.
In addition, the board approved a first share buyback programme against 2022 results for EUR 979 million that was executed from 22 November 2022 to 31 January 2023. In application of the 2022 AGM resolutions, on 1 February 2023 the board resolved to reduce, subject to the required regulatory authorization from the ECB, the share capital in the amount of EUR 170,203,286, by cancelling the 340,406,572 shares repurchased in the above mentioned buyback programme, representing 2.03% of the share capital. Once the required regulatory authorization is obtained, the share capital will be EUR 8,226,997,506 represented by 16,453,995,012 shares.
The bank's board shall propose to the AGM and disclose on the date of the meeting the final terms of the remaining remuneration to shareholders charged to 2022 results, in line with the current payout policy of approximately 40% of the Group's underlying profit, divided approximately equally between cash dividends and share repurchases.