The Catalan company has announced that it will pay an interim dividend of 0.08 euros per share in October, which is almost three times the 0.03 euros it paid as an interim dividend last year, and is the largest cash payment since 2010.
In the midst of the BBVA takeover bid, Sabadell Bank closed the first half of the year with a profit of 791 million eurosa 40.3% more than in the same period last year, according to a statement sent to the National Securities Market Commission (CNMV) on Tuesday.
The bank explained that the increase in profits is due to the strong growth rate of the business – especially in financing for SMEs and companies – and in mortgages, and the constant improvement of the credit risk profile, “which has allowed us to raise the quality of our assets again and reduce provisions.”
The bank’s CEO, Cesar Gonzalez-Buenohas pointed out that the results “are a consequence of the radical transformation of the business carried out in the last three years” and has highlighted that profits are at record levels.
He has celebrated that the entity’s strategy “is giving results” and has assured, textually, that the bank is more strong and efficientwith a solid financial and operational foundation, focused on accelerating its growth and profitability.
On the other hand, the entity has approved that the expected remuneration to shareholders The company expects the capital gains to reach 2.9 billion euros by 2025, 500 million euros more than initially planned, and the pay-out to be 60% of the current year’s profit. The various recurring payments made over these two years will total 0.53 euros per share, equivalent to 27% of the value of each share.
The first of the payments will be made next October and will consist of a cash dividend of 0.08 euros per share, which implies a total disbursement of 429 million euros, 33% more than the sum of the two dividends paid in the previous year.
Source: Eitb
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