2022-24 Strategic Plan Update
AT A GLANCE
Strong financials support higher shareholder distributions
2023
INCREASED TBVPS
TBVPS, €
INCREASED EPS
EPS(2) in €
4.20
0.64
% INCREASED PAYOUT
Cash payout(3), %
INCREASED DPS
DPS(3)(4), €
60%
55%
50%
0.39
3.77
3.73
3.49
+11%
0.40
0.31
0.23
+61%
15%
+5 pp
0.23
0.15
0.03
-70%
YE20 YE21
YE22 (1)
YE23
2020
2021
2022 2023
FY 20
FY21
FY22
FY23
FY20 FY21
FY22
FY23
2024
ORDINARY DIVIDEND (6)
0°
CaixaBank
EXTRAORDINARY
DISTRIBUTIONS
€500 M
2nd extraordinary SBB
already completed (5)
3rd extraordinary SBB
to begin in 1H24e (5)
2022-24
ORDINARY PAYOUT TOPPED UP BY EXTRAORDINARY DISTRIBUTION
•
50-60%
Interim dividend in Nov-24e
(30-40% of 1H24 result)
2022-24E CAPITAL
DISTRIBUTION CAPACITY (7)
~€12 Bn
FY22 dividend already paid
Cash Payout target
•
Final dividend in April 2025e
UPGRADED STRATEGIC
AMBITION
(vs. c.€9 Bn
initial target)
o/w ~€6.9 Bn
including
•
FY23 dividend announced (3)
•
1st and 2nd SBB already executed (5)
(1) IFRS 17/9. (2) Profit attributed to the Group, ex M&A impacts in 2021, divided by the average number of shares outstanding. (3) FY23: dividend payable against fiscal year results as agreed by the Board for proposal to the next AGM. (4) DPS rounded
to nearest € cent and calculated as total dividend against each fiscal year result divided by year-end outstanding shares. FY23: total dividend divided by outstanding shares as of end of Dec-2023 excluding those repurchased under 2nd SBB (€500M
completed on 3 January 2024). (5) 1st extraordinary SBB (€1.8 Bn) executed in 2022. 2nd extraordinary SBB: €500M executed between September 2023 and January 2024. 3rd extraordinary SBB: it is the intention of CABK, subject to the appropriate
regulatory approval, to implement a new extraordinary SBB (the 3rd one during the Strategic Plan period) expected to begin in 1H24 and aimed at bringing YE23 % CET 1 closer to 12%. Additional details, including the maximum amount of the SBB, will be
disclosed in due course and once approved. (6) Dividend plan for 2024 approved by the BoD in February 2024. (7) Includes 2022 SBB plus capital generated in 2022-24 in excess of 12% CET1 ratio (ex IFRS 9 TA).
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