The Catalan entity has announced that it will pay an interim dividend of €0.08 per share in October, almost tripling the €0.03 it paid out as an interim dividend last year, and making the largest cash payment since 2010.
In the midst of a takeover bid for BBVA, 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, as reported in a statement sent to the National Securities Market Commission (CNMV) on Tuesday.
The entity explained that the increase in profits is due to the company’s strong growth rate – particularly in SME and corporate financing – and in mortgages, and to the continued improvement in its credit risk profile, “which has allowed it to once again increase asset quality and reduce provisions”.
The CEO of the bank, Cesar Gonzalez-Buenopointed out that the results are “a consequence of the radical transformation of the company carried out over the past three years” and stressed that profits are at record levels.
He celebrated that the entity’s strategy is “delivering results” and literally assured that the bank is more strong and efficientwith a solid financial and operational base, focused on accelerating growth and profitability.
On the other hand, the entity has approved that the planned remuneration to shareholders until 2025 amounts to 2.9 billion, 500 million more than initially planned, and the distribution amounts to 60% of the profit of the current year. The various payments made on a recurring basis in these two years will amount to a total of 0.53 euros per share, corresponding to 27% of the value of each title.
The first payment will be made in October next year and will consist of an interim cash dividend of €0.08 per share, implying a total payout of €429 million, 33% more than the sum of the two dividends paid the previous year.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
