BBVA has already done this 23% share buyback It started in early October after investing 115 million euros to buy 15 million of its own securities, according to information filed with the National Securities Market Commission (CNMV) today.
In this way, the bank made a purchase of 230.5 million euros. 30 million shares. The bank plans to run this program by purchasing 3 million shares daily until it reaches the target amount of 1,000 million euros.
BBVA will be responsible for executing the buyback, particularly in the Spanish Permanent Market and in DXE Europe, which the organization has flagged. daily purchase target of 2,500,000 and 500,000 actions respectively.
This is one of the ways banks choose to reward shareholders, unlike traditional dividend distribution.
In this sense, BBVA’s policy envisages a ‘payout’ (percentage of profits going to shareholders) of between 40% and 50% of profits between cash dividends and possible additional share buybacks.