The BBVA share
Global economic growth may have slowed slightly in the second quarter of 2018. Although the pace of expansion remains robust, it is geographically less uniforme, with acceleration in the United States contrasting with certain signs of moderation in China, some emerging economies, and even more strongly in Europe. For now, the economic situation remains positive. Despite the fact that both the Federal Reserve (Fed) and the ECB have taken steps toward the normalization of their monetary policy, their policies will continue to support activity. For this reason, the increase in financial tensions in the emerging economies due to the appreciation of the dollar seem to respond more to a revaluation of their vulnerabilities than to a significant risk in the short term. In fact, the main risk now is protectionism, since although the direct effect on global growth of the measures taken could be limited, the indirect impact of lower confidence and higher financial volatility could be felt in the second half of the year and increase uncertainty.
Most stock-market indices posted losses in the first half of the year. However, in Europe, the declines of the first quarter have eased: the Stoxx 50 and the Euro Stoxx 50 fell by 4.2% and 3.1%, respectively, year-to-date; while in Spain, the Ibex 35 lost 4.2% over the same period. In contrast, in the United States the S&P 500 index gained 1.7% in the last six months (up 2.9% in the second quarter).
In Europe, the banking sector indices were more negative between December 2017 and June 2018 than these general indices. The European Stoxx Banks index, which includes British banks, lost 12.4%, and the Eurozone bank index, the Euro Stoxx Banks, was down 15.4%. In contrast, in the United States the S&P Regional Banks index gained 3.6% on the close of 2017.
The BBVA share closed June at €6.07, a fall of 14.6% over the first half of the year.
BBVA share evolution compared with European indices
(Base índice 100=30-06-2017)
The BBVA share and share performance ratios
| 30-06-18 | 31-12-17 | |
|---|---|---|
| Number of shareholders | 890,821 | 891,453 |
| Number of shares issued | 6,667,886,580 | 6,667,886,580 |
| Daily average number of shares traded | 35,234,367 | 35,820,623 |
| Daily average trading (million euros) | 231 | 252 |
| Maximum price (euros) | 7,73 | 7,93 |
| Minimum price (euros) | 5,78 | 5,92 |
| Closing price (euros) | 6,07 | 7,11 |
| Book value per share (euros) | 6,89 | 6,96 |
| Tangible book value per share (euros) | 5,63 | 5,69 |
| Market capitalization (million euros) | 40,501 | 47,422 |
| Yield (dividend/price; %) (1) | 4,0 | 4,2 |
- (1) Calculated by dividing shareholder remuneration over the last twelve months by the closing price of the period.
Shareholder remuneration for 2018 is governed by the shareholder remuneration policy announced by publication of a Significant Event on February 1, 2017. Subject to the approval from the corresponding corporate bodies, BBVA plans to make a cash dividend payment in October 2018 and April 2019.
Shareholder remuneration
(Euros gross/share)
As of June 30, 2018, the number of BBVA shares remained at 6,668 million, and the number of shareholders was 890,821. By type of investor, residents in Spain held 42.9% of the share capital, while the remaining 57.1% was owned by non-resident shareholders.
Shareholder structure (30-06-2018)
| Numbers of shares |
Shareholders | Shares | ||
|---|---|---|---|---|
| Number | % | Number | % | |
| Up 150 | 181,652 | 20.4 | 12,897,780 | 0.2 |
| 151 to 450 | 180,481 | 20.3 | 49,399,626 | 0.7 |
| 451 to 1,800 | 280,481 | 31.5 | 273,702,625 | 4.1 |
| 1,801 to 4,500 | 130,170 | 14.6 | 370,781,712 | 5.6 |
| 4,501 to 9,000 | 60,866 | 6.8 | 383,603,067 | 5.8 |
| 9,001 to 45,000 | 50,737 | 5.7 | 882,458,735 | 13.2 |
| More than 45,001 | 6,434 | 0.7 | 4,695,043,035 | 70.4 |
| Total | 890,821 | 100.0 | 6,667,886,580 | 100.0 |
BBVA shares are included on the main stock-market indices, including the Ibex 35, Euro Stoxx 50 and Stoxx 50, with a weighting of 8.2%, 1.7% and 1.1% respectively. They also form part of several sector indices, including the Euro Stoxx Banks, with a weighting of 8.7%, and the Stoxx Banks, with a weighting of 4.2%.
Finally, BBVA maintains a significant presence on a number of international sustainability indices or ESG (environmental, social and governance) indices, which evaluate the performance of companies in this area, as summarized in the table below.
Sustainability indices on which BBVA is listed as of 30-06-2018 (1)
(1) The inclusion of BBVA in any MSCI index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement or promotion of BBVA by MSCI or any of its affiliates. The MSCI indices are the exclusive property of MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.