Dividends
Our dividend distribution policy aims to achieve a balance between the remuneration of shareholders and the maintenance of a high level of capitalisation.
In the last ten years (June 2016-25) we have distributed more than €6bn to our shareholders (dividends and share buybacks), while maintaining solid capital ratios.
The distribution for FY 2025-26 has been increased to provide a total payout of 100%, all cash.
Interim dividends were introduced in May 2024, with the balance payable in November (for further details see the financial timetable).
| € | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 12M25 |
| CASH DPS | 0,27 | 0,37 | 0,47 | 0,47 | 0 | 0,66 | 0,75 | 0,85 | 1,07 | 1,15 | 1,72 |
| ANNUAL CASH DPS | 231 | 320 | 413 | 410 | 0 | 569 | 629 | 719 | 885 | 931 | 984 |
| STATED PAYOUT | 38 | 43 | 48 | 50 | 0 | 70 | 70 | 70 | 70 | 70 | 83 |
| SHARE BUYBACK | 0 | 0 | 0 | 163 | 105 | 0 | 241 | 0 | 198 | 384 | 269 |
| GROUP NET PROFIT | 605 | 750 | 864 | 823 | 600 | 808 | 907 | 1,027 | 1,273 | 1,330 | 1,184 |
| CET1(%) | 12,1 | 13,3 | 14,2 | 14,1 | 16,1 | 16,3 | 15,7 | 15,9 | 15,2 | 15,1 | 16,4 |
| NO. SHARES (M) | 871 | 881 | 887 | 887 | 887 | 887 | 865 | 849 | 833 | 813 | 813 |