Bankia : General Shareholders Meeting approves a 7% increase in dividend payout to 340 million euros

• The State will receive through the FROB, 207 million euros based on its current stake, taking the total amount of public aid repaid by Bankia to 2,863 million euros
• Despite the challenging environment of recent years, the bank has raised enough capital to complete the integration of BMN, without the transaction affecting the dividend per share

Bankia's General Shareholders Meeting met today and approved the distribution of dividends totalling 340 million euros - 7% higher than the previous year's payout.

Consequently, the dividend amounts to 11.024 cents per share, or 2.756 cents per share before thereverse split in June 2017.

As in the last three years, this ordinary shareholder remuneration will be paid in cash in a single payment, and will be settled on 20 April.

The bank has therefore maintained the dividend per share equal to the year before, although the total amount paid out is higher due to the greater number of shares in circulation after the capital increase realised for the integration of BMN.

This is the fourth dividend paid in Bankia's history. Since Bankia's first shareholder payout in July 2015, a total of 1,160 million euros will have been distributed.

Despite the challenging environment faced by the financial sector in recent years, the bank has managed to raise enough capital to complete the integration of BMN, without the transaction affecting the dividend per share.

2,863 million euros of public aid repaid

Following the Bankia-BMN merger, the Fund for the Orderly Restructuring of the Banking Sector (FROB), directly and indirectly through BFA Tenedora de Acciones, obtained a 60.933% stake in the resulting entity. With the dividend payment, it will receive 207 million euros.

With the privatisation of 7.5% of Bankia's capital in February 2014, which brought in 1,304 million euros; the additional sell-off of another 7% in December which generated 818 million euros in revenues for the FROB; and the four dividend payments, the State will have recovered a total of 2,863 million euros.

Part of the dividend will also be used to remunerate the former shareholders of BMN, who are now Bankia shareholders. The four foundations of the savings banks that merged to create the bank will also jointly receive around 3.5 million euros.

The shareholders also signed off on the bank's 2017 financial statements today. Furthermore, the General Shareholders Meeting approved the number of members of the Board of Directors at 12, and re-appointed the company's auditor.