Cash payout, between 50% and 60% of the consolidated net profit for 2025-2027, including an interim dividend each year.
1. Subject to approval by the European Central Bank (ECB) and the Board of Directors. Considers the achievement of the capital and profitability objectives established in the 2025-2027 Strategic Plan.
For more information, refer to the section "Dividends".
The Strategic Plan includes the commitment to distribute the excess CET1 capital above the target management level via dividend or Share buyback programmes, in addition to the distribution of ordinary dividend.
For 2025, the CET1 threshold stands at 12.25% and for 2026 and 2027 stands at 12.50%.
1. Subject to approval by the European Central Bank (ECB) and the Board of Directors. Considers the capital and profitability objectives established in the 2025-2027 Strategic Plan.
For more information about the shareholder remuneration policy of the 2025-2027 Strategic Plan, please refer to the “Investor Day” documents.
For more information about the ordinary and extraordinary distribution of the 2022-2024 Strategic Plan, check the Inside Information and Other Relevant Information sections. The 2024 earnings presentation document is also available for reference (page. 32).
Last update: April 2025