logo
  

BBVA Chairman: Plans To Distribute Nearly 20% Of Bank's Current Market Capitalization In 2021 & 2022

BBVA Chairman Carlos Torres Vila stated that, in 2021 and 2022, the Group expects to distribute more than 7 billion euros to shareholders. This includes the share buyback program and the expected dividends for both years. BBVA Chairman noted that the priority is profitable growth, but he did not rule out additional distributions to shareholders. The bank targets to be in its target range of a fully loaded CET1 capital ratio of 11.5-12 percent in 2024.

BBVA Chairman stated that, following the share buyback program initiated in the closing quarter of 2021, and assuming a 100 percent acceptance of the takeover bid for the 50.15 percent it does not own in Turkish unit, the company will still have a significant excess capital of more than 2 billion euros. The company will use this capital and any further capital it generates in future to continue investing in growing franchises and making additional distributions to shareholders.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Plumrose USA's ready-to-eat or RTE ham product citing that it may not be fully cooked due to underprocessing. The product subject to the public health alert is 1-lb resealable plastic packages containing "Great Value Black Forest Ham Water Added" with a "BEST IF USED BY 07/15/22". America New York Ri Wang Food Group Co., Ltd. is recalling around 14,635 pounds of ready-to-eat or RTE pork sausage products due to possible contamination with extraneous materials, specifically metal, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The TJX Companies, Inc. (TJX) said its first-quarter pretax profit margin and earnings per share, each on an adjusted basis, exceeded its plans even though sales were slightly below planned range. Adjusted pretax margin was 9.4%, excluding a 1.9 percentage point charge related to a write-down of the...
RELATED NEWS
Follow RTT