Share price

A year that went from less to more on the stock market

fotografia After a difficult year in 2018, the Spanish stock market made significant gains in 2019, despite the economic environment, monetary policy and international trade, or the slowdown seen in some emerging markets. While the Ibex 35 gained almost 12% in 2019, the financial sector was one of hardest hit by the high levels of volatility, with many banking stocks incurring losses. Spanish listed banks reported an average 10% loss compared to the previous year at the end of 2019.

In this difficult context, Bankinter, S.A.'s shares showed an acceptable performance: with a 7% fall in the share price. The Bank's market capitalisation at 31 December 2019 stood at 5,871 million euros. Shareholder return, including the dividend yield, was -3%, a figure which, despite being negative, compares favourably with the rest of the sector.

Bankinter has been one of the best performing European banks on the securities markets over the last three, five and 10 years, underlining investors’ confidence in its business model and management. Since the end of 2009, Bankinter’s share price has risen by 42%, while the Ibex has fallen by 13% and the STOXX Europe 600 Banks index by 35%.

Share capital

At the end of 2019, Bankinter, S.A.'s share capital was represented by 898,866,154 fully subscribed and paid shares with a par value of 0.30 euros each. All the shares are represented by book entries, admitted for listing on the Madrid and Barcelona Stock Exchanges and traded on the Spanish continuous market.

Bankinter had 55,358 shareholders at 31 December. Residents held 55% of the share capital and non-residents the remaining 45%. Registered shareholders with more than 5% of the share capital are detailed in the table below.

Key data for Bankinter shares in 2019 are shown in the following tables:

Dividend policy

Shareholders with significant holdings
Share price Relative change
Per share data

(*) This percentage of Bankinter's share capital owned by Corporación Masaveu is part of the indirect voting rights held on the Bank's share capital by Bankinter director, Mr. Fernando Masaveu. Mr. Fernando Masaveu directly and indirectly holds 5.29% of the voting rights of Bankinter's share capital.

In 2019, Bankinter maintained its dividend policy, traditionally in quarterly cash payments, thanks to a good business performance and high solvency, which has enabled the Bank to keep a good payout level (percentage of profits allocated to dividends) in recent years, while complying with the general recommendations issued by regulators to ensure adequate capital preservation of banks.

In 2019, as in previous years, four cash dividends were distributed: a final dividend for 2018 and three interim dividends for 2019, which represented approximately 50% of ordinary profit obtained in the first three quarters. The fourth and final dividend to be paid out of full-year profit will be approved by shareholders at the 2020 annual general meeting.

Distribution of dividends for 2019, as of the date of publication of this report:

Distribution of dividends

American Depositary Receipts (ADR)

Bankinter has a Level 1 ADR programme managed by Bank of New York-Mellon, with 120127 ADRs outstanding at the end of 2019. This allows US residents to invest in foreign companies through a US dollardenominated product and to receive dividend payments in their own currency.

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