After two consecutive years in the red, the Spanish stock market closed 2017 in positive territory, although the rise was smaller than those experienced in Milan, Frankfurt, Paris and even London. Thanks in particular to the push given to it by the financial sector, the Ibex 35 gained 7.4%, versus the 2% it had lost in 2016. The changes in European and US monetary policy, along with the positive performance of international trade, were key to this improvement.
Bankinter's share performed identically to the Ibex. Its price increased by 7.4% and it reached highs of 8.6 euros during the year. The Bank's market capitalisation at 31 December 2017 stood at 7.105 billion euros. Shareholder return, including the dividend, was above 10%, a figure which compares very favourably internationally.
Bankinter has one of the best stock market track records in European banking over the last few years, thanks to the confidence investors have in its management. Since the end of 2013, the share price has risen by 58.5%, while in the same four-year period, the Ibex did so by 1.3% and the STOXX Europe 600 Banks recorded a fall of 5.3%.
At year-end 2017, 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, are listed on the Madrid and Barcelona Stock Exchanges and are traded on the Spanish computerised trading system.
Bankinter had 54,911 shareholders at 31 December 2017. Residents held 53.5%of the share capital and the remaining 46.5% was in the hands of non-residents. Registered shareholders who hold more than 5% of the share capital are detailed in the table below. At 31 December 2017, there were 101,787 treasury shares.
The most significant figures regarding the Bankinter share last year are detailed in the following tables:
In 2017, Bankinter maintained its dividend policy, which is traditionally paid quarterly in cash. The good performance of the business and its accredited capital adequacy has enabled the Bank, over the past few years, to avoid the general restrictions imposed by regulators for the preservation of banks' capital.
Last year four cash dividends were distributed: a final dividend for 2016 and three interim dividends for 2017, 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 2017 profit, will be approved by the shareholders at the 2018 annual general meeting of shareholders.
Dividend per share was 0.25 euros in 2017, up 18.5% on the 0.21 euros in 2016.
The distribution of dividends for the 2017 financial year, as of the date of publication of this report, is as follows:
Bankinter has a Level 1 programme managed by Bank of New York-Mellon, which had 143,749 ADRs outstanding at year-end 2017. This is a product that enables residents of the United States to invest in foreign companies' instruments denominated in US dollars with dividend payments also in the same currency.
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