Business · Companies · 4 hrs ago
Only two of Sabadell’s 15 board members reinvested part of TSB dividend
Banco Sabadell paid shareholders a special dividend of 50 cents a share in May, funded by TSB, its British subsidiary.
Just two of the bank’s 15 board members used part of that payment to buy Sabadell shares: Lluís Deulofeu bought 35,411 and David Vegara bought 22,164.
Before the dividend, chairman Josep Oliu had urged small investors to reinvest the money, saying the shares were undervalued.
The limited board buying contrasts with summer sales by several senior executives, including finance chief Sergi Palavecino and strategy chief Marc Prat.
Oliu holds 8.11 million Sabadell shares, while new chief executive Marc Armengol holds 363,326.
Sabadell shares have risen 19% since January and were trading at 3.44 euros each.
Only two of Sabadell’s 15 board members reinvested part of the 50-cent special dividend paid in May in the bank’s shares.
Lluís Deulofeu bought 35,411 shares in June, while David Vegara bought 22,164, according to CNMV records.
Sabadell chairman Josep Oliu had urged small investors to use the dividend to increase their shareholdings.
Several members of the bank’s management committee sold shares during the summer.
Sabadell shares were trading at 3.44 euros, up 19% since January, according to Expansión.
- Who
- Two of Sabadell’s 15 board members: Lluís Deulofeu and David Vegara.
- What
- They reinvested part of Sabadell’s special dividend in the bank’s shares.
- When
- The dividend was paid in May; Deulofeu and Vegara bought shares in June.
- Where
- Sabadell, a Catalan bank. The share purchases were reported in CNMV records.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Sabadell paid a special dividend of 50 cents per share.
Oliu urged small investors to use the dividend to increase their shareholdings.
Deulofeu bought 35,411 Sabadell shares and Vegara bought 22,164.
Several members of Sabadell’s management committee sold shares.
- Board members who reinvested
- 2 of 15
- Special dividend
- 50 cents per share, paid in May
- Lluís Deulofeu’s purchase
- 35,411 shares in June
- David Vegara’s purchase
- 22,164 shares in June
- Sabadell share price
- 3.44 euros; up 19% since January
What people are saying
The bank is still cheap
Market multiples suggest that the share should trade at a higher price, taking into account the expected return for 2027; if we also add the price analysts assign to us, our share has upside potential