Dividend - Investors - BFF Banking Group
Dividend
Dividend policy aimed at self-funding business growth and paying, twice a year, the excess capital generated above 12% CET1 ratio1:
- Target CET1 ratio level of 12%, well above the SREP requirements
- Earnings of the period retained to maintain the 12% CET1 ratio target and pay-out the portion of the net income of the year in excess of the 12% CET1 ratio threshold
- No obligation to pay a minimum DPS or pay-out ratio every year
1 In addition to TCR >15%, as long as requested by ECB.
| FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | 1H 2023 | |
|---|---|---|---|---|---|---|---|
| Ex-dividend date | 9-Apr-2018 | 1-Apr-2019 | 29-Mar and 11-Oct 2021 | 11-Oct-2021 | 19-Apr-2022 | 24-Apr-2023 | 11-Sep-2023 |
| Total n° of shares as of 31/12 | 170,107,400 | 170,107,400 | 170,553,778 | 170,650,642 | 185,312,690 | 185,545,952 | 185,545,952 |
| Total n° of shares as of the ex-dividend date | 170,107,400 | 170,107,400 | 184,694,346 | 185,307,538 | 185,315,280 | 185,623,140 | 186,738,419 |
| Net Profit (€m) - Reported | 95.55 | 92.15 | 93.16 | 91.07 | 197.37 | 232.05 | 76.15(5) |
| Net Profit (€m) - Adjusted | 83.73 | 91.75 | 98.79 | 97.63 | 125.28 | 146.03 | 81.94(5) |
| EPS - Reported(1) | € 0.562 | € 0.542 | € 0.546 | € 0.534 | € 1.065 | € 1.251 | € 0.410 |
| EPS - Adjusted(1) | € 0.492 | € 0.539 | € 0.579 | € 0.572 | € 0.676 | € 0.787 | € 0.442 |
| Cash dividends accrued in the year (€m) | 83.69 | 91.75 | 70.87 | 97.63 | 125.28 | 146.03 | - |
| Cash dividends paid (€m) | 83.69 | 91.75 | 3.23 | 165.28 | 125.28 | 146.03 | 81.94 |
| DPS | € 0.492 | € 0.539 | € 0.415 | € 0.572(2) | € 0.6795 | € 0.7898(4) | € 0.438(6) |
| DPS paid | € 0.492 | € 0.539 | € 0.017495 | € 0.8946 | € 0.6795 | € 0.7898(4) | € 0.438(6) |
| Pay-out ratio on Adjusted Net Profit | 100.0% | 100.0% | 71.7% | 100.0% | 100.0% | 100.0% | 100.0% |
| Dividend yield (DPS/Average closing price in the year) | 9.1%(3) | 10.2% | 8.2% | 11.7%(2) | 9.5% | 11.5% | 9.6%(7) |
| Dividend yield (DPS/Closing price before the ex-dividend date) | 8.4% | 9.9% | 6.4% | 7.0%(2) | 9.8% | 8.7% | 9.0%(7) |
(1) Computed on the basis of the total n° of shares as of 31/12.
(2) Theoretical DPS amount, calculated on the basis of the cash dividends accrued in 2020 (€97.63m) and the total n° of shares as of 31/12/2020 (#170,650,642).
(3) The average closing price of 2017 includes also the IPO price (€ 4.7).
(4) 0.3708 euro as interim dividend distributed in August 2022 and 0.419 euro as remaining amount distributed in April 2023. Total number of shares as of the ex-dividend date of the interim dividend equal to 185,521,548.
(5) Half year results as of 30-Jun-23.
(6) Interim dividend on the basis of the half year results as of 30-Jun-23.
(7) Annualized dividend yield.
Date of last update: 14/09/2023.