BCP to Dish Out €453.4 Million in Dividends to Shareholders
Hey there! Let's break down the upcoming annual general meeting (AGM) for Banco Comercial Português (BCP) on May 22. Here's what's on the agenda:
- Dividend Distribution: The bank, under the leadership of Miguel Maya, plans to disperse 453.4 million euros in dividends, equating to a dividend per share of 0.03 euros.
- Share Buyback Program: The bank proposes to reduce its share capital by up to 150 million euros for the purpose of executing a share buyback program. This program aims to extinguish up to 755,699,497 own shares, representing up to 5% of the total shares.
- Share Capital Increase: Shareholders will also deliberate on increasing the bank's share capital to three million euros, by incorporating the special reserve resulting from the share capital reduction, without the issuance of new shares.
- Accounting Documents: Shareholders will assess the accounting documents for 2024 and conduct a general evaluation of the company's administration and supervision.
- Co-optation and Policy Ratification: The co-optation of an administrator for the 2022-2025 term and the policy of distribution to shareholders will be discussed and voted on.
- Remuneration and Internal Policies: Shareholders will consider updates to the remuneration policy for the members of the administration and supervision bodies, as well as the internal policy for the selection and evaluation of the adequacy of these members and the holders of essential functions.
- Contract and Share/Bond Transactions: Finally, shareholders will consider changes to the company's contract and the acquisition and alienation of own shares and bonds.
In other news, the BCP announced the launch of a share buyback program on April 8. The buyback kicked off on April 14 and will run until October 14.
Now, while I can't claim to have the inside scoop on Miguel Maya, here's what we know about the share buyback program:
- Objective: Repurchase up to 10% of issued share capital.
- Authorization: Approved in the May 22, 2024, meeting.
- Timeline: Commenced around late April 2025 reports.
There you have it! Stay tuned for updates on the AGM and BCP's share buyback program. Cheers!
- The dividend distribution at the upcoming AGM of Banco Comercial Português (BCP) on May 22, 2025, will see the bank dispersing 453.4 million euros in dividends, equating to a dividend per share of 0.03 euros.
- In line with the AGM agenda on May 22, 2025, shareholders will discuss and vote on the co-optation of an administrator for the 2022-2025 term, a move that includes a policy of distribution to shareholders.
- During the AGM discussion on changes to the BCP's internal policies on May 22, 2025, shareholders will consider updates to the remuneration policy for the members of the administration and supervision bodies.
- The share buyback program announced by BCP in April 2024, with the objective of repurchasing up to 10% of issued share capital, was authorized in the May 22, 2024, meeting and commenced around late April 2025.
