SHAREHOLDERS AND INVESTORS

Remuneration of Shareholders

Ordinary distribution within the framework of the 2022-2024 Strategic Plan

Dividends in 2024

Distribution of between 50% and 60% of consolidated net profit, by means of two cash payments in line with the current plan:

50%-60%
consolidated net profit
November 20241
April 20252

1For an amount between 30 and 40% of the consolidated net profit for the first half of 2024.

2Subject to the approval of the General Shareholders' Meeting.


Dividends in 2023:

€2.9 billion, equivalent to 60% of consolidated net profit in 2023

Dividends in 2022:

€1.7 billion, equivalent to 55% of consolidated net profit in 2022

For more information on dividends, please refer to the Policies and other corporate documents section and the Dividends section.

Extraordinary distribution under the 2022-2024 Strategic Plan

Within the framework of the 2022-2024 Strategic Plan, 3 extraordinary share repurchase programmes have been carried out:

Programme Amount
(in millions of euros)
Execution period
1 1,800 2022
2 500 Sep-23 to Jan-24
3 500 Mar-24 to Apr-24


For more information on share buyback programmes, please refer to the Insider Information and Other Relevant Information sections.

Total distribution within the framework of the 2022-2024 Strategic Plan

The strategic target for 2022-24 capital distribution capacity has been set at €12 billion, of which €7.4 billion has been distributed:

In ordinary dividends: €4.6 billion

In extraordinary share buyback programmes: €2.8 billion

Last update: June 2024