Shares and dividends

Over the time horizon of the 2022-2025 Business Plan: a cash dividend distribution was envisaged corresponding to a
payout ratio, based on the consolidated net income, of  70% each year of the Plan; a buyback of 3.4bn euro (*) 
was approved at the Shareholders’ Meeting and authorised by the ECB.  

For the 2022 results, cash interim dividends of 1.4bn euro paid in November 2022 and cash remaining dividends of 1.6bn euro paid in May 2023, for a total dividend distribution of 3bn euro.

Programme of purchase of own shares for annulment (buyback) for an initial outlay of 1.7bn euro launched on 4 July 2022 and concluded on 11 October 2022 and for the remaining outlay of 1.7bn euro launched on 13 February 2023 and concluded on 4 April 2023.

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(*) Amount equivalent to the suspended 2019 dividend.