• The Board of Directors has agreed to recommend to shareholders the payment of a dividend of 2.625 euro cents per share, 50% more than last year
  • With its current shareholding, BFA, which is 100% state-controlled, would receive 194 million euros

Bankia's Board of Directors has agreed to recommend to the General Meeting of Shareholders that a dividend of 2.625 euro cents per share be paid out of last year's profits.

If this recommendation is accepted, Bankia will return a total of 302.3 million euros to its shareholders in the form of dividends. Like last year, the dividend will be paid in cash.

The amount of the dividend proposed by the Board of Directors is 50% more than was paid last July out of profits for 2014, which came to 1.75 euro cents per share, giving a total of 201.6 million euros.

BFA is the currently Bankia's largest shareholder, with a 64.2% stake. Given that BFA is 100% controlled by the FROB, the payment of this dividend thus represents a further step towards paying back the aid received from taxpayers.

If BFA's stake in Bankia remains unchanged at the date of payment of the dividend, Bankia will return an additional 194 million euros to taxpayers.

This will be in addition to the 1,304 million euros received by BFA in 2014 as a result of the sale of 7.5% of Bankia and the 128 million received in 2015, when Bankia distributed its first ever dividend. The accumulated amount of aid returned by Bankia will thus reach 1,626 million.

'We are very pleased to be able to recommend to our shareholders the payment of another dividend, in this case 50% bigger than the one we paid last year. This decision reflects the strength of the Bank's capital adequacy and the solid base of recurring income,' said Bankia chairman José Ignacio Goirigolzarri.

'Payment of a dividend, for the second year running, will bring Bankia another step closer to normal operations and, more importantly, towards repaying the state aid it has received,' he added.

The statements by Bankia's chairman, José Ignacio Goirigolzarri, on the related information are available at the following links:

Bankia SA issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 February 2016 12:15:01 UTC

Original Document: http://www.bankia.com/en/communication/in-the-news/press-releases/bankia-board-recommends-dividend-of-302-million-euros-out-of-2015-earnings.html