Shareholder remuneration system and earnings per share (Tables)

6 Months Ended

Jun. 30, 2020

Shareholder remuneration system and earnings per share

Schedule of shareholder remuneration

The cash remuneration paid by the Bank to its shareholders in the first six months of 2020 and 2019 was as follows:

	30-06-2020			30-06-2019
	% of par value	Euros per share	Amount (Million euros)	% of par value		Euros per share	Amount (Million euros)
Ordinary shares	—	—	—	26.00	%	0.130	2,110
Other shares (without vote, redeemable, etc.)	—	—	—	—		—	—
Total remuneration paid	—	—	—	26.00	%	0.130	2,110
Dividend paid out of profit	—	—	—	13.00	%	0.065	1,055
Dividend paid with a charge to reserves or share premium	—	—	—	13.00	%	0.065	1,055
Dividend in kind	—	—	—	—		—	—
Flexible payment	—	—	—	—		—	—

Earnings per share basic and diluted

Basic earnings per share for the period are calculated by dividing the net profit attributable to the Group for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares held in the period.

Accordingly:

	30-06-2020	30-06-2019
Profit attributable to the Parent (million euros)	(10,798)	3,231
Remuneration of contingently convertible preference shares (million euros)	(278)	(298)
	(11,076)	2,933
Of which:
Profit or Loss from discontinued operations (non controlling interest net) (million euros)	—	—
Profit or Loss from continuing operations (PPC net) (million euros)	(11,076)	2,933
Weighted average number of shares outstanding	16,598,649,355	16,231,374,256
Basic earnings per share (euros)	(0.67)	0.18
Of which: from discontinued operations (euros)	—	—
from continuing operations (euros)	(0.67)	0.18

ii. Diluted earnings per share

Diluted earnings per share for the period are calculated by dividing the net profit attributable to the Group for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity and of perpetual liabilities contingently amortisable in their case by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares and adjusted for all the dilutive effects inherent to potential ordinary shares (share options, warrants and convertible debt instruments).

Accordingly, diluted earnings per share were determined as follows:

	30-06-2020	30-06-2019
Profit attributable to the Parent (million euros)	(10,798)	3,231
Remuneration of contingently convertible preference shares (million euros)	(278)	(298)
Dilutive effect of changes in profit for the period arising from potential conversion of ordinary shares	—	—
	(11,076)	2,933
Of which:
Profit or Loss from discontinued operations (non controlling interest net) (million euros)	—	—
Profit or Loss from continuing operations (PPC net) (million euros)	(11,076)	2,933
Weighted average number of shares outstanding	16,598,649,355	16,231,374,256
Dilutive effect of options/receipt of shares	40,016,222	41,832,881
Adjusted number of shares	16,638,665,577	16,273,207,137
Diluted earnings per share (euros)	(0.67)	0.18
Of which: from discontinued operations (euros)	—	—
from continuing operations (euros)	(0.67)	0.18