Bankia proposes to increase dividend out of profit for 2016 by
5% to 317 million euros

The Board of Directors has agreed to recommend to the General Meeting
a dividend of 2.756 euro cents per share

With its current shareholding, BFA, which is 100 controlled% by the State,
would receive 209 million euros, bringing the total amount of state aid
repaid by Bankia to 1,836 million euros
Madrid, 27/1/2017. Bankia’s Board of Directors has agreed to recommend to the
General Meeting of Shareholders that a dividend of 2.756 euro cents per share
be paid out of last year’s profits.
If this recommendation is accepted, Bankia will return a total of 317 million euros
to its shareholders in the form of dividends. As in the previous two years, the
dividend will be paid in cash.
The amount of the dividend proposed by the Board of Directors is 5% higher than
the dividend paid one year ago out of profit for 2015, which amounted to 2.625
euro cents per share. Out of the profit for 2014 the Bank was able to pay a
dividend of 1.75 cents.
The return to shareholders has thus increased 57.5% since Bankia paid its first
dividend in July 2015, despite the difficult environment for the financial sector.
The cumulative payment for these three years will total 820 million euros.
BFA, an entity fully owned by State through the Fund for Orderly Bank
Restructuring (FROB), is Bankia’s principal shareholder. As of the end of last year
BFA held 65.9% of Bankia’s shares. The dividend distribution thus allows the
Bank to continue to repay the state aid it received.
If BFA’s interest in Bankia remains unchanged at the date of payment of the
dividend, Bankia will return an additional 209 million euros to taxpayers.
Between the privatisation of 7.5% of Bankia’s shares in February 2014, which
brought proceeds of 1,304 million euros, and the three dividends paid, the State
will have recovered a total of 1,836 million euros.
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“We are very satisfied to be able to recommend another dividend to our
shareholders and that the proposed dividend is 5% greater than that paid one
year ago. This is possible because despite the difficult environment for the
financial sector and its impact on results, Bankia is capable of making a profit and
maintaining capital adequacy levels that allow it to improve the return to its
shareholders,” said Bankia chairman José Ignacio Goirigolzarri.
According to Goirigolzarri, the fact of paying a dividend “has an added value in
that it allows us to make further progress in repaying the state aid received. In
these three years we will have returned more than 1,800 million euros to
taxpayers and we are firmly committed to continue to work to increase that
amount as far as possible.”
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