The state and La Caixa will decide in a few months whether to increase their stake in CaixaBank.

The two main shareholders of CaixaBank, La Caixa Banking Foundation (30.012%) and the State (16.1177%) will have to decide in a few months. raise their position majority in the financial institution or sell a small piece to buy back a share similar to what they have today. the fruit of the process buyback and repurchase of shares The organization headed by the bank, which began to pay fees to all its owners, Isidre Faine and the public Fund for Regular Bank Restructuring (FROB) will increase their participation to some extent. maximum 33.3% and 17.9%. predicted to happen before the end of the yearor at the latest at the beginning of the next and from then on they will make a decision.

this Ministry of Economyso he puts the matter on the table, but does not decide until the bank pays off its acquired securities. In a few monthsAccording to sources from the department headed by Nadia Calviño. In any case, the government more incentives to increase Its stake in CaixaBank, –without putting in more public money– this is a higher dividend percentage It will be paid by the bank in the coming years. Actually, the Manager thinks regrow before the end of 2022 legal period for exit entity beyond what is available (end of 2023), as part of a strategy to maximize aid recovery.

Instead, if reduce your share you will get it through the sale of shares less future dividends and register handicap (Not related to the share change resulting from Bankia’s takeover by CaixaBank, because quoting rise of the bank about 37% Since then, but at the original value of Bankia’s shares when it was nationalized in 2012). The only positive aspect of the sale, message to market The state does not increase its participation in a private bank. However, the stated purpose of economics in particular pales in comparison to other arguments. save the most possible 24,069 million euros Injected into the extinct group expropriated by the rulers of José Luis Rodríguez Zapatero and Mariano Rajoy.

Never below 30%

La Caixa Banking Foundation is in the same line, in no hurry make a decision and wait until the podium presided over José Ignacio Goirigolzarri and under the leadership Gonzalo Gortazar complete the repurchase and redemption of shares. In any case, even If I decide to sell a small package of shares, business will never decrease its participation through the ‘retention’ Criteria It’s under 30%. The banking foundations law of 2013 thus establishes a special regime. tax benefits for those who hold shares equal to or greater than this percentage in their bank.

Both reference shareholders of CaixaBank are likely to meet again. similar situation in the coming years.. He left open the possibility of making a bank additional buybacks future stocks, provided that capital over 12%a level that it will continue to maintain when the ongoing process is complete.

accelerated execution

Share repurchases have become common in banking in recent years. pay owners Given the industry’s low stock market price caused by the protracted environment of zero or negative interest rates. Thus, CaixaBank announced a buyback for maximum value a month ago. €1.8 billion depreciate 10% of its capitalIt is found by deducting the participation share that the foundation and the State can reach. The program will continue maximum 12 monthsbut the bank intends run this year. In fact, in less than a month (from May 17 to June 10), Morgan Stanley, hired by the business to manage the buyback, had already purchased titles worth €347 million, the equivalent of 1.29% of equity. 19.3% of the total amount provided.

buyback (in financial language) ‘payback’) is a transaction in which a company purchases to repurchase or liquidate its own shares. By reducing the number of existing shares, it increases the participation of the remaining shareholders in the company without the need to buy new shares. This species benefits owners because raise the share price (due to increased demand for securities during the time the purchases are made and each security having more value with the same value of the company and fewer shares); increase your earnings per share (company’s profit spreads over fewer titles); Y does not create a tax burden (as opposed to collecting dividends) if the shareholder does not sell.

Source: Informacion


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