Banco Bilbao Vizcaya Argentaria, S.A. commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on April 20, 2021.
On October 26, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to 10% of its share capital for a maximum amount of 3,500 million. The program will run over a period of 12 months.
On November 19, 2021, the company announced the execution of the first tranche. Under the first tranche, the company will repurchase up to 637,770,016 shares, representing 9.6%of its share capital for 1,500 million. The purpose of the program is share capital reduction by means of the redemption of the shares repurchased. The first tranche will start from November 22, 2021 and will end neither before February 16, 2022 nor later than April 5, 2022 and, in any event, when within such period the maximum cash amount is reached or the maximum number of shares is acquired.
On February 3, 2022, the company announced the execution of the second tranche. Under the second tranche, the company will repurchase up to 2,000 million worth of its shares. The implementation of the second tranche will begin after the end of the implementation of the first tranche and shall end no later than October 15, 2022.