BNP Paribas Targets Higher Shareholder Returns
08 Fevereiro 2022 - 3:37AM
Dow Jones News
By Mauro Orru
BNP Paribas SA plans to raise the proportion of earnings it pays
to shareholders through 2025, joining a cohort of European lenders
in increasing shareholder returns.
The French bank said Tuesday that it is targeting a payout ratio
of 60% as part of its new plan from 2022 to 2025, including a
minimum cash payout of 50%.
For 2021, it is proposing a dividend of 3.67 euros ($4.20) in
cash, representing a 50% payout ratio that rises to 60% when
factoring in a EUR900 million share-buyback program that the bank
completed in December.
The announcement comes as BNP Paribas is targeting average
annual growth in net income of more than 7% throughout the period
from 2022 to 2025, with revenue growth of more than 3.5%
annually.
The lender posted a net profit of EUR2.31 billion in the fourth
quarter of 2021 up from EUR1.59 billion a year earlier. Revenue
climbed to EUR11.23 billion from EUR10.83 billion.
Analysts polled by FactSet had forecast net profit of EUR2.01
billion on revenue of EUR11.40 billion for the last three months of
the year.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 08, 2022 01:22 ET (06:22 GMT)
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