Optional dividend calendar

 

 

 

 

 

 

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby proceeds by means of the present document to notify the following:

 

 

RELEVANT EVENT 

 

 

BBVA hereby communicates relevant information relating to the capital increase to be charged to voluntary reserves resolved by the Annual General Meeting of BBVA Shareholders held on 11^th March 2016, under agenda item three, section 3.1, by which a shareholder remuneration system called "Dividend Option" is to be instrumented. Accompanying this relevant event notice is an information note related to the referred capital increase. 

 

 

 

 

Madrid, 11^th March 2016

INFORMATION NOTE

 

 

 

The Annual General Meeting of BBVA Shareholders held on 11^th March 2016 approved, under agenda item three, section 3.1, a capital increase to be charged to voluntary reserves (the "Capital Increase") for the instrumentation of the shareholder remuneration system called "Dividend Option", allowing BBVA shareholders to elect to receive their remuneration in newly issued BBVA shares or, at their election, in cash. 

 

The execution of the Capital Increase will be proposed for consideration by BBVA's Board of Directors and if approved it is expected to be executed in accordance with the following timetable:

 

·        31^st March 2016: Communication of the number of rights necessary to receive one new share, and the definitive price at which BBVA has committed to purchase rights.

 

·        4^th April 2016 (23:59 Madrid (Spain) time): Record date for allocation of rights.

 

·        5^th April 2016: Rights trading period begins in Spain.

 

·        14^th April 2016: Deadline for requesting payment in cash (sale of rights to BBVA).

 

·        19^th April 2016: Rights trading period ends.

 

·        22^nd April 2016: Payment date to shareholders who have requested payment in cash (sale of rights to BBVA).

 

·        26^th April 2016: New shares allocated to shareholders.

 

·        27^th April 2016: Initiation of ordinary trading of the new shares on the Spanish stock exchanges.

 

Finally, it is estimated that, assuming BBVA's Board of Directors approves the execution of the Capital Increase, the gross purchase price at which BBVA will purchase rights, in accordance with the formula approved by the Annual General Meeting of BBVA Shareholders, will be around 0.13 euros per right. 

 

 

Madrid, 11^th March 2016