As someone who’s recently moved to Spain, I opened a bank account and also bought some bank stocks, thinking it would be a nice way to earn some dividends each year without much effort. However, I was never quite clear on when Spanish banks actually pay out dividends, and my bank manager was a bit vague. So, I did some research online and compiled the 2024 dividend plans for a few major banks. I’m sharing it here for anyone with the same questions, so you can get an idea of when to expect your money.
Overview of Major Bank Dividends
Spain’s major banks, like Santander, BBVA, and CaixaBank, typically pay dividends twice a year. One is a mid-year payment, which is the final dividend from the previous fiscal year, and the other is an end-of-year payment, which is an interim dividend for the current fiscal year. Of course, the specific dates and amounts are decided at the annual shareholders’ meeting, so the [transfer cut-off times] are not set in stone, but they generally follow this rhythm.
It’s important to note that to receive a dividend, you must own the stock before the ‘record date’ set by the bank. This date is usually a few days before the ‘payment date’. If you buy the stock after the record date, you’ll have to wait for the next dividend payment, regardless of the [Spanish transfer times].
2024 Dividend Schedule for Selected Banks
Based on news reports and investor relations information from the banks’ official websites, I’ve put together a rough schedule. Please note that these are projected or announced dates and may be subject to minor changes. For the most accurate information, always check the bank’s official announcements.
| Bank | Payment Months | Amount per Share | Notes |
|---|
| Banco Santander | May & November | Approx. €0.095 | November interim dividend TBD |
| BBVA | April & October | €0.39 | Planned total of €0.55 for the year |
| CaixaBank | April | €0.3919 | CaixaBank tends to make a single annual payment |
| Banco Sabadell | April | €0.03 | Interim dividend was paid last December |
| Bankinter | March, June, etc. | Varies | Bankinter pays out more frequently, on a quarterly basis |
This table is just for reference. You can find the most accurate information for the stocks you hold by visiting the ‘Accionistas e Inversores’ (Shareholders and Investors) section on your bank’s official website. There is usually a ‘Calendario del accionista’ (Shareholder Calendar) page with the most complete details.
Dividends received are automatically deposited into the bank account linked to your securities account. However, Spain automatically withholds tax, so the actual amount you receive will be slightly less than the announced per-share amount, which affects the final bank deduction times. This is a standard tax withholding and will be reconciled when you file your renta (annual tax return). I hope this post is helpful, and I welcome any additions or corrections from others! Happy investing everyone!
