The bank under the leadership of Miguel Maya has outlined its agenda for the upcoming general assembly scheduled for May 22. Details released by the Comissão do Mercado de Valores Mobiliários indicate that the institution plans to distribute dividends amounting to 453.4 million euros, equating to a dividend of 0.03 euros per share.
Among the topics for discussion is a proposal to reduce the bank’s share capital by up to 150 million euros. This move aims to facilitate a share buyback program and the annulment of shares already acquired or to be acquired, potentially extinguishing up to 755,699,497 shares, representing up to 5% of the total capital.
Furthermore, shareholders will deliberate on increasing the bank’s share capital to three billion euros. This increase will result from incorporating the special reserve formed following the share capital reduction, without issuing new shares.
BCP announced the launch of its share buyback program on April 8, which commenced on April 14 and is set to conclude by October 14.
Additionally, shareholders will consider the financial statements for the year 2024, conduct a general assessment of the company’s management and oversight, and vote on ratifying the appointment of a board member for the term 2022-2025. Discussions will also cover the dividend distribution policy for shareholders.
The agenda includes votes on updating the remuneration policy for executive and supervisory board members, as well as reviewing the internal policy for selecting and evaluating the suitability of these individuals.
Finally, the assembly will address potential amendments to the company’s contract and discuss the acquisition and disposal of own shares and bonds.
