Bankia Suspends €2.5 Billion pay out to Spanish Shareholders

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José Ignacio Goirigolzarri, President of Bankia Credit: Bankia

FOURTH largest bank in Spain, Bankia had a plan to pay €2.5 billion to shareholders (which include the Spanish government) in order to assist those who had lost so much when it first got into financial problems.

Even with some €4.1 billion in hand, it has now decided that due to the coronavirus crisis and the collapse of world stock exchanges that it would be prudent to suspend this ‘windfall’ dividend for the time being so that it can face future financial challenges.

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