• BFA, which is 100% state-controlled, will receive 127 million euros as holder of 62.9% of Bankia
  • Goirigolzarri: "This is the first dividend paid in our bank and a way of paying back the aid to taxpayers"

The Annual General Meeting of Bankia today approved the payment of a cash dividend of 1.75 euro cents per share out of earnings for last year, entailing a total payment of 202 million euros.

The payment of Bankia's first dividend marks a further step towards the repayment of the aid to taxpayers, given that BFA, which is wholly owned by the FROB and holds 62.9% of Bankia, will receive a total of 127 million euros. BFA already recovered 1,304 million euros in February 2014 after selling 7.5% of Bankia.

The chairman of BFA and Bankia, José Ignacio Goirigolzarri, said today that "this is undoubtedly great news because it is the first dividend our company has paid and is further proof of the bank's return to normal operations" and because "it is also a way of paying back the aid to taxpayers, which for the Board of Directors is an absolute priority".

This dividend can be paid because "Bankia has a healthy balance sheet, increasing earnings and a growth model that generates capital organically," Goirigolzarri explained, after stating that the bank expects a "substantial increase in profit in 2015, so as to achieve a ROE of 10%, which would make us one of the most profitable banks in Spain".

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