The growth in business results, excess liquidity in the economy and still expansionary monetary policies favored a general improvement in stock markets around the world in 2021. Although the last quarter was affected by the expansion of the Omicron variant of the coronavirus, the Ibex 35 index experienced a rise of 7.9% compared to the end of the previous year, with financial stocks clearly recovering, due, among other things, to the forecasts of rising interest rates, not yet confirmed by the Central Bank European (ECB).
In this scenario, Bankinter's share behaved extraordinarily and increased its profitability more than in any other year, thanks to the positive impact of the spin-off of Línea Directa in April. Shareholders who kept their shares in the bank and the insurance company throughout 2021 obtained a joint dividend yield of more than 5.3%, which represents a growth of 31% over the dividends distributed by Bankinter alone in 2019. In addition, dividend investment increased by 38%, including both shares, while the average for banks listed in Spain stood at 31% (the same percentage lost in 2020).
The Bank's market capitalisation at 31 December 2021 stood at 4.053 billion euros.
At the end of 2021, 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 58,632 shareholders at 31 December. Residents in Spain 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 and ratios for Bankinter shares in 2021 are detailed in the tables on the next page.
|Shareholders with significant holdings. 31/12/2021|
|Corporación Masaveu, S.A.*||44,959,730||5.00|
|Shareholder structure by number of shares|
|Tranches||No. of shareholders||%||No. of shares||%|
|From 1 to 100 shares||15,379||26.23||249,056||0.03|
|From 101 to 1,000 shares||19,525||33.30||9,850,410||1.10|
|From 1,001 to 10,000 shares||20,038||34.18||66,531,895||7.40|
|From 10,001 to 100,000 shares||3,404||5.80||80,386,191||8.94|
|More than 100,000 shares||286||0.49||741,848,602||82.53|
|Summary by type of shareholder|
|Type||No. of shareholders||%||No. of shares||%|
Share price Relative performance (%) last 12 months (Dec-20 base 100)
|Data per share for the period, at 31.12.2021 (euros)|
|Earnings per share||1.46|
|Dividend per share||0.23|
|Book value per share||5.40|
|Share price at beginning of period||4.42|
|Minimum intraday share price||4.04|
|Maximum intraday share price||6.06|
|Last share price||4.51|
|Performance over last 12 months (%)||1.92|
|Performance over the last 12 months adjusted by share premium distribution (%)||38.28|
|Stock market ratios at 31.12.2021|
|Price/book value (times)||0.84|
|PER (price/earnings, times)||9.26|
|Dividend yield (%)||5.20|
|Number of shareholders||58,632|
|Number of shares||898,866,154|
|Number of shares of non-residents||406,258,082|
|Average daily trading volume (number of shares)||2,871,919|
|Average daily trading volume (thousands of euros)||14,201|
|Market capitalisation (thousands of euros)||4,052,987|
(*) 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, Fernando Masaveu. Fernando Masaveu directly and indirectly holds 5.29% of the voting rights of Bankinter's share capital.
Bankinter resumed its dividend policy on 1 October, the day the ECB ended its recommendation to the banks not distribute dividends. A first payment of 0.133 euros per share was made and later another was made in the amount of 0.051 euros per share.
These two interim dividends on the 2021 income statement will be complemented by the final dividend approved at the 2022 Annual General Meeting as suggested by the Board of Directors at its previous meeting.
Dividends distributed and distributable charge to profit for 2021, excluding treasury shares held by the Bank:
Bankinter has a Level 1 ADR programme managed by Bank of New York-Mellon, with 68,048 ADRs outstanding at the end of 2021. This allows US residents to invest in foreign companies through a US dollar-denominated product and to receive dividend payments in their own currency.
|Distribution of dividends|
|Deposit date||Dividend per share (euros)||No. of shares||Treasury shares||Shares with voting rights||Amount (euros)||Corresponding year|
*Final dividend subject to its approval at the Annual General Meeting, first convened for 23 March 2021.