By Ed Frankl
Banco Bilbao Vizcaya Argentaria SA's Chief Executive Officer Carlos Torres said Monday that the Spanish's bank's 2022 dividend will be its highest in at least a decade.
"If we take into account the profit expected by consensus for the year as a whole, and also taking into account the payout policy of 40% to 50% that we have established, we expect this year's dividend to far exceed last year's dividend of 31 European cents [a share], which was already the highest cash dividend we have paid in the last decade," the Spanish bank's boss said.
Mr. Torres said financial figures from September showed a significant increase in lending, and in net profit by 50%, with a strong performance in Mexico and its domestic Spanish market.
However, Mr. Torres said the business environment was still highly uncertain, with the Ukraine war, the Covid-19 situation in China and commercial tensions in particular as issues in 2023.
At 1204 GMT, shares were up 0.6% at EUR6.40.
BBVA is due to publish full-year results on Feb. 1.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
01-16-23 0725ET