BBVA has successfully completed the share buyback of €422m initiated on 20 March. This plan is part of the shareholder remuneration for the 2022 financial year. 3,015m to shareholder remuneration, between the cash dividend of 43 euro cents gross per share and this share buyback.
The total number of treasury shares acquired was 64.64 million, representing approximately 1.07% of BBVA’s share capital.
BBVA was in charge of executing the share buyback on the Spanish Continuous Market and on DXE Europe, where the bank set a daily target of buying 2,500,000 and 500,000 shares, respectively.
BBVA share buyback as part of shareholder remuneration
This buyback plan is part of the shareholder remuneration for the 2022 financial year. 3,015m (47% of the net attributable profit reported last year) to shareholder remuneration, between the cash dividend of 43 cents gross per share (12 cents paid in October 2022 and 31 cents paid in April 2023) and this share buyback. This remuneration is consistent with the Group’s shareholder remuneration policy of distributing between 40% and 50% of the profit for the year each year, with the option to combine the cash payment with share buybacks.
This is the second share buyback in the last two years. Specifically, on 19 August 2022, BBVA completed another share buyback programme, amounting to EUR 3.16 billion, one of the largest in Europe. In this buyback, the bank acquired a total of 637,770,016 shares, representing 9.6% of the bank’s capital at that date.