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91% of BBVA’s capital chooses to receive the dividend in new shares
- 91.01% of BBVA’s capital has elected to receive the second interim 2011 dividend in new shares
- BBVA will issue 78.4 million new shares to be distributed among its shareholders who elected to receive the second interim 2011 dividend in free securities
- BBVA’s shareholders have had the option of receiving shares for the traditional final 2010 dividend and the interim 2011 dividend
The second payout under BBVA’s novel remuneration system, the Dividend Choice, has been settled with the decision by 91.01% of the share capital to receive the dividend in new shares without tax withholdings.
BBVA will issue 78.4 million new shares with a nominal value of EUR 0.49, to be delivered to shareholders who preferred to receive the dividend in free securities. The amount of the capital increase is EUR 38.4 million.
The new shares are expected to be listed for trading on the markets of Madrid, Bilbao, Barcelona and Valencia, as well as on the Sistema de Interconexión Bursátil (Interconnected Stock Market System), on 24 October, and ordinary trading is expected to begin the following day. In addition, BBVA will request admission to trading for the new shares on the foreign markets on which it trades.
At its 11 March General Shareholders’ Meeting, BBVA approved the new Dividend Choice remuneration system, which allows shareholders to receive dividends in shares or in cash. This remuneration system has been used for the traditional final 2010 dividend and interim 2011 dividend.