Spain's BBVA announces record interim dividend to lure Sabadell shareholders

MADRID, Sept 29 (Reuters) - Spain's BBVA BBVA.MC said on Monday that its shareholders and those of Sabadell SABE.MC who tender their shares in its hostile takeover bid will receive a record interim dividend against 2025 results.

Investors will receive an interim gross dividend of 0.32 euros ($0.38) per share in cash on November 7, a 10.3% increase compared to 2024, in what is the highest interim dividend in BBVA's history, it said.

Sabadell shareholders who tendered their shares will also receive this dividend, BBVA added, as the payout will materialise following the settlement of the tender offer, which is currently worth 16.86 billion euros.

Investors have until October 10 to accept BBVA's bid, which on September 22 offered one of its own shares for every 4.8376 Sabadell shares, a rise of 10% to 3.39 euros per share, from the previous offer of 3.084 euros per share, based on September 19 closing prices and the previous exchange ratio.

The bid, however, represented just a premium of 1.6% compared to the day before the new terms were announced.

($1 = 0.8524 euros)