The BBVA adds and continues and advances in the OPA raised to Banco Sabadell once the offer is improved in a 10% through a full consideration of actions. Thus, the Board of Directors of the Basque entity has agreed to pay a dividend on account of the 2025 accounts for a gross amount of 0.32 euros for each action that is the largest in its history, given the 10.3% rise compared to last year.
Remember that this OPA already has the APPROACH OF THE CNMV (National Securities Market Commission), and that this agency has been responsible for notifying that the payment will be made on November 7 and that it will benefit both the current shareholders and those of Banco Sabadell who go to the public offering offer (OPA) launched by the BBVA.
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BBVA improves its offer by Banco Sabadell by increasing the OPA by 10% through a full consideration in shares
This movement is framed in BBVA’s offensive for taking the control of Sabadell in a hostile OPA over 100% of the capital that, in case it goes ahead, will mean the integration of the fifth Spanish bank within the group chaired by Carlos Rtorres Vila.
BBVA has decided to extend the dividend record to the new shareholders resulting from the operation. If the OPA is completed, but is settled before November 4, the payment would be made 3 business days after effective settlement.
“Ensure that new shareholders participate in the dividend”
With this measure, the BBVA intends to guarantee that the new shareholders participate in the dividend, as it appears in the statement that has sent to the CNMV and that Europa Press has collected. The decision forces Sabadell’s shareholders to choose between joining the BBVA group and receiving the ordinary dividend announced or staying in the Catalan entity and collecting the extraordinary of Sabadell to be distributed once the British TSB subsidiary to Santander.
According to Sabadell’s planning, the extraordinary dividend will amount to 0.50 euros per share. This exchange equation proposed by the OPA (4.83 Sabadell shares for one of BBVA) implies that the shareholders who accept it will become part of BBVA, accessing the dividend “record” raised, but renouncing the extraordinary dividend that Planet Sabadell. The Catalan entity, meanwhile, distributed in August a dividend on account of 0.07 euros per share.
BBVA’s announcement comes at a complicated moment, in which the bank is concentrated, after a decade of mergers and restructuring raised by the financial crisis.
The banking sector rebounds in its benefits
The banking sector in Spain has registered the greatest benefits in recent years, since 2008, promoting the return of capital to the shareholders thanks to the payment of growing dividends. The dividend announced by BBVA consolidates this trend and places the entity at the forefront of the distribution of benefits among investors.
But the outcome of the OPA is still in the air since regulatory authorizations are pending as well as the conditions that CNMV or the government itself can impose (it must be remembered that the Minister of Economy, Commerce and Business already spoke about it).
It is also pending to know if BBVA will keep in the next exercises the current growth rate of its dividend, a key aspect for investors when deciding between going to the OPA or maintaining the position in Sabadell.