The Spanish banking group BBVA said on Monday that it planned to distribute more than seven billion euros to its shareholders for the 2021 and 2022 financial years.
In an interview broadcast on the Internet site of establishment, its president Carlos Torres Vila points out that this objective corresponds to almost 20% of the group's current market capitalization.
In detail, Torres Vila explains that BBVA intends to pay 3.5 billion euros to its shareholders for the 2021 financial year in the form of dividends and share buybacks, then the same amount in 2022.
The president of the establishment argues that this amount corresponds to a payout rate of the annual profit of between 40% and 50%.
On economic activity, the executive said he expects the recovery to continue in 2022 thanks to the ebb of uncertainties surrounding inflation, tensions in the supply chain and the emergence of new variants of the Covid-19.
On the Madrid Stock Exchange, the BBVA share rose 0.6% on Monday at the very beginning of the afternoon.
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