Today has been the last day to collect the dividend that will be distributed to its shareholders next Friday, August 29. The fertilizer, of 0.07 euros per share of the results of 2025, amounts to a total of 370 million euros, which represents 37% of the benefits harvested until the first semester, of 975 million euros, and the investors that are holders of an action of the bank at the end of this Tuesday will charge.
The payment reaches the final stretch of the BBVA OPA on Sabadell, after the presiding group, and entails a new adjustment of the exchange equation of the operation. The Basque Bank announced in May 2024, when it launched the OPA on Sabadell, which, which led him to update the offer in October of that year and last April. While the adjustment of the dividends distributed by the opted entity (as is the current case) is usual in these operations, the same does not happen with the buyer’s payments. Thus, the BBVA will cut the remuneration in the offer: the exchange will become an action of the BBVA plus 0.70 euros per share in exchange for 5,5483 Sabadell shares. Until now, the number of Sabadell titles necessary to receive the action of the bank chaired by Carlos Torres was minor, of 5,3456.
With the closing prices on Tuesday, the BBVA in 15,845 euros and the Sabadell in 3,391, the current offer is 8.73% below the price of the Catalan bank, which is known as a negative premium. Although the new exchange equation would raise, at current prices, this gap to more than 12%, the usual discount of the dividend in the price that can be expected by the payment (which is equivalent to 2% of the value in the entity’s market) will strengthen the differential again.
This ordinary dividend is part of the remuneration plan to the shareholder for the 2025-2027 period that Sabadell presented at the end of July as a solo road map against the OPA of the. In total, Sabadell plans to distribute about 6,300 million euros until 2027, a figure equivalent to more than 40% of its current stock market capitalization. These 6.3 billion, which will be distributed through cash dividends and shares, include the distribution of 60% of the benefits achieved in the period, the distribution of all the capital that exceeds 13% and an extraordinary dividend of 2.5 billion euros for the sale of TSB.
By 2025, the bank plans to distribute 1.3 billion euros charged to the current year through cash dividends and shares. To the first dividend on account, payable next Friday, August 29, two other ordinary ones will be joined, according to Sabadell’s forecasts and following the remuneration policy approved at the last Shareholders’ Board: one on December 29 and another to pay between March and April 2026. To this will be joined by the distribution of excess capital. For the next two years, 2026 and 2027, Sabadell estimates that he will remunerate his shareholders with at least 2.5 billion euros.
At the same time, the entity will dedicate a total of 1,002 million euros to shares of shares, of which it has executed so far 85%. This program, according to the entity, aims to reduce the share capital of Banco Sabadell through the amortization of the repurchased own shares, which makes “each shareholder own a higher percentage of the bank and, therefore, has the right to receive a top of the benefits”.
