BANKIA: AGM - DIVIDEND'19 PAYMENT MOVED FORWARD AND EXTRAORDINARY DIVIDEND'20 SHELVED (ANÃLISIS BANCO SABADELL)
BKIA has changed its dividend policy. Negative news regarding the warning of a possible cancellation of the ordinary dividend’20, although to some degree it was expected based on the moves made by Santander and Caixabank (eliminating and reducing their dividend’20, respectively) this week and in line with what we expected. As for the extraordinary dividend, meeting the € 2.5 Bn total was something neither we nor the market expected, as it depended partly on the approval of the internal model, in addition to the regulator allowing the bank to pay out the amount stated.Bankia is a financial institution based in Spain. Co. is primarily engaged in operations in the banking sector. Co.'s business operations are structured into seven areas: Retail Banking, Business Banking, Private Banking, Asset Management and Bancassurance, Capital Markets and Holdings. Co. offers financial products and services to various customer segments, such as individuals, small and medium enterprises, large corporations, as well as public and private institutions. As of Dec 31 2014, Co. had total assets and total customer deposits of Euro233,648,603,000 and Euro106,806,698,000 respectively.
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