BBVA adjusts its offer for Banco Sabadell after the payment of dividends

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By TP


BBVA has communicated a adjustment of its offer by Banco Sabadell due to the dividends that both entities will distribute. So now it offers one newly issued ordinary share from BBVA and 0.29 euros for each 5.0196 ordinary securities of the bank chaired by Josep Oliu. In this way, and as has been reported to the National Securities Market Commission (CNMV) as consequence of the interim dividend of results for fiscal year 2024 for the amount ofe 0.08 euros per share paid by Banco Sabadell to its shareholders this Tuesday, the Basque entity has adjusted the consideration for the offer. «After applying said adjustment in the terms provided in the previous announcement, the consideration offered by BBVA to the shareholders of Banco Sabadell under the offer becomes one newly issued ordinary share of BBVA for every five point zero one nine six (5.0196) ordinary shares of Banco Sabadell«, he detailed. Furthermore, and due to the next payment by BBVA of a dividend on account of results for the year 2024 in the amount of 0.29 euros per sharewhich will take place on October 10, the consideration for the offer will also be adjusted again. «In this way, as of next October 10 (date of payment of the BBVA interim dividend), the consideration offered by BBVA to the shareholders of Banco Sabadell under the offer will become one newly issued ordinary share of BBVA and 0.29 euros in cash for every five point zero one nine six (5.0196) ordinary shares of Banco Sabadell», the bank chaired by Carlos Torres has indicated. BBVA has also indicated that these adjustments, provided for in the previous announcement of May 9, 2024, are intended to «keep the economic conditions of the offer equivalentafter dividend payments by both entities».