BBVA: stock down after annual results

(CercleFinance.com) - The BBVA share is down over 2% in Madrid on Friday, after the Spanish banking group published net income, group share (excluding exceptional items) of 3.
08 billion euros for 2020, down 36.1% relative to 2019.

At 12.22 billion euros, operating profit increased by 11.7% in constant euros, thanks to the resilience of its recurring revenues, combined with efforts to contain costs.

BBVA adds that it intends to make a gross cash payment of 0.059 euro per share in 2020, and expects to resume its distribution policy to shareholders in 2021 with a distribution rate of 35% to 40% of profit.


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