New order of Banco Sabadell in your fight to prevent the hostile OPA launched by BBVA against the entity. If yesterday afternoon BBVA raised the remuneration to the shareholder to make the more attractive offer and that the shareholders adhere to the OPA,With the payment of 0.32 euros gross per share that will pay on November 7, The last movement is pointed out by Sabadell, which shows that the dividend will be crucial when the shareholders are decided by one or another option.
Thus, the Board of Directors of Sabadell «based on the positive evolution of the business, the results and the generation of capital, has proceeded to increase the objective of remuneration to the shareholder charged to the 2025 exercise From its current level of 1.3 billion euros to around 1,450 million euros «, As communicated to the CNMV.
It is also The sixth improvement that occurs in the remuneration of the Sabadell shareholder, Since more than a year and four months ago the presentation of the OPA was communicated.
The Council also emphasizes that this update is carried out in advance of the communication of results of the third quarter of 2025 that Banco Sabadell will carry out on November 13, 2025, considering that the term of acceptance of the voluntary public offering of acquisition made by Banco BBVA (the “OPA”) ends on October 10.
For this reason, they point out «Banco Sabadell Board of Directors has approved this update so that Banco Sabadell shareholders have the most up -to -date information in possible when making their decision in relation to said OPA. The commercial and financial evolution of Banco Sabadell advance, at the end of August 2025, In line with or better than budgeted for exercise«.
This joins the 2,500 million euros of the sale of TSB that will distribute among the shareholders in The payment of the extraordinary dividend of 50 cents per action that will pay, in all likelihood if the BBVA OPA does not go ahead, in April 2026.
All this binds to the decision, expected of the Board of Directors of Sabadell to reject the offer again after the improvement of 10%.
And he has indicated it to the CNMV: «The Board of Directors, based on the considerations and opinions contained in this report (including the opinions issued by the external advisors specially appointed for that purpose), as well as the information contained in the brochure, in the supplement and in the F-4 and the supplement to the F-4, taking into account all the terms and the characteristics of the offer, reject the offer, reject the offer, Consider that the best for Banco Sabadell shareholders is not to accept the offer«. But only in the case of 14 of the 15 directors.
In addition, with the addition that the approval has not been unanimous, since he has not joined the ‘no’ David Martínez Guzmán, The second shareholder of the entity and the largest individual in importance, with a percentage of Sabadell of 3.8%, which will finally go to the BBVA OPA.
He points out that «I have decided to participate in the offer presented by BBVA because I consider that the future consolidation in Spain of both institutions will lead to an even more competitive entity.» It emphasizes that huge attention has been given to the offer pricewhich considers a secondary factor to the benefits of integration of entities in the long term.
The Mexican businessman also points out that political interference «They have negatively affected the consideration of this offer.»