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Bankinter limits dividend payout to 15% against 2020 results to meet ECB guidelines

MADRID, Feb 22 (Reuters) - Spain’s Bankinter on Monday said it would pay an interim dividend of 0.04 euros ($0.0486) per share against 2020 results, in accordance with the 15% dividend cap set by the European Central Bank (ECB).

In December, the ECB decided to let banks pay out part of their cumulative 2019-2020 profits to shareholders if they have enough capital, easing a blanket ban on dividends and buybacks set during the first wave of the coronavirus crisis.

However, it said it expected bank dividends and share buy-backs to remain below 15% of cumulative 2019-20 profits and not exceed 20 basis points of the Common Equity Tier 1 (CET1) ratio, whichever is lower.

Last month, Bankinter Chief Financial Officer Jacobo Diaz told analysts the bank would limit its payment to 15% of its results, adding however that the bank’s aim was to “come back to our 50% payout dividend policy as soon as possible”.

$1 = 0.8235 euros Reporting by Jesús Aguado; Editing by Nathan Allen and Emelia Sithole-Matarise

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