CIXPF - CaixaBank: A Surprising 10% Dividend Yield At A 60% Payout Ratio

2024-02-17 11:40:00 ET

Summary

• CaixaBank focuses on Spain, while Banco Santander and BBVA generate profits in Mexico and South America.
• CaixaBank reported strong net income and increased dividend in 2023.
• The bank's capital ratio remains strong, exceeding the minimum required ratio by a wide margin.

Introduction

CaixaBank (CAIXY) (CIXPF) is the bank with the largest footprint in Spain . While a Banco Santander (SAN) and BBVA (BBVA) have a much higher market cap, those two banks mainly generate their profits in Mexico and South America while CaixaBank still focuses on Spain. Even more so after the completion of the acquisition of Bankia ....

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