The next dividend that investors will be able to pocket, in the Spanish calendar, is that of Banco Sabadell. The entity will distribute a payment of 8 cents per share on October 1, which at current levels offers a yield of 4.4%Shareholders who wish to benefit from this remuneration must have the Catalan company’s shares in their portfolio before September 27.
This yield in a single payment is one of the highest among Spanish companies, although the entity has already appreciated by 67% during the year and is the most optimistic company of the Ibex 35. This dividend is 5 cents higher than that distributed last month of March, of 0.03 euros, being the most generous since Sabadell distributed part of its profits among its shareholders.
But the Catalan entity’s intention is to further increase this remuneration, by increasing shareholder remuneration above the 2.9 billion euros announced by the company for the period 2024-2025. A formula that could serve as a counteroffensive to BBVA’s public takeover bid, since a higher remuneration could convince some of the shareholders to reject it.
As the bank’s chief financial officer, Leopoldo Alvear, hinted this week at a closed-door investor conference hosted by Barclays, the previous forecasts do not include the improvement in the return on equity (RoTe) target, which is moving up one percentage point, from 12% to 13%, as indicated during the presentation of the results for the second quarter of the year (when it posted a record profit of 791 million euros between January and June).
The CEO of Sabadell, César González-Bueno, highlighted in an interview with this media the attractiveness that the dividend will have with the distribution of the surplus capital among shareholders from 13% CET1. “This allows us to distribute extraordinarily attractive dividends since they will currently represent 27% of the bank’s capitalization. Recovering almost 30% of the value of the shares is a very high and attractive profitability,” he said.
From XTB, they explain in this sense that, according to the law on takeover bids, it is not so clear that the bank can carry out this remuneration policy, since, let us recall, this regulation stipulates that: “Distribute extraordinary dividends or remunerate any other” in a way that does not follow the usual policy of distributing dividends to shareholders or holders of other securities of the company concerned, unless the corresponding corporate agreements have been previously approved by the competent legal entity and made public.
Overall, analysts who monitor its stock market performance recommend buying Banco Sabadell shares, which offer a potential increase of 19.4%.
The Catalan company shares a calendar with Ebro Foods, which will also distribute a dividend of 0.22 euros on October 1 and the deadline (the day on which the shares are already listed without the right to receive the dividend) is September 27. The profitability of this payment is 1.4%, which is one of the three distributions that Ebro historically makes to its investors. The shares of the food company, owner of brands such as SOS or Brillante, reached annual highs on Friday, with a balance of just over 4% for the year.
