BBVA (Spain) has successfully completed the share buyback program announced on March 20, 2023, for a total of €422 million. This program is part of the distributions to shareholders for the year 2022. In total, BBVA devoted €3.02 billion to its shareholders, including a cash dividend of €0.43 (gross) per share and this share buyback plan.
The total number of own shares acquired stood at 64.64 million, representing approximately 1.07 percent of BBVA’s social capital.
BBVA executed this buyback in the Spanish Continuous Market and DXE Europe, where the bank set a daily target of purchasing 2.5 million and 500,000 shares, respectively.
This buyback program is part of the distributions to shareholders for the year 2022. In total, BBVA devoted €3.02 billion (47 percent of the net attributable profit reported last year) to shareholders, including a cash dividend of €0.43 (gross) per share (€0.12 paid in October 2022 and €0.31 paid in April 2023), and this share buyback. This distribution is consistent with the Group’s shareholder remuneration policy, which envisages to annually distribute between 40 and 50 percent of the yearly profit, with the option of combining cash payment and share buyback programs.
This is the second share buyback of the bank over the past two years. On August 19, 2022, BBVA concluded another buyback program for a total of €3.16 billion, one of the largest in Europe. In that program, BBVA acquired a total of 637,770,016 shares, representing 9.6 percent of the bank’s capital as of that date.