The Government predicts that public coffers will collect, in 2022, 495 million euros with dividends from Banco de Portugal and Caixa Geral de Depósitos (CGD), according to the proposal delivered on Monday night in parliament.
In the report accompanying the State Budget proposal for 2022, the executive foresees “the delivery of 295 million euros by Banco de Portugal and 200 million euros by Caixa Geral de Depósitos”.
For this year, according to the 2021 State Budget, the Government expects to receive 534.1 million euros in dividends from CGD (159.6 million euros) and from Banco de Portugal (374.5 million euros).
For 2020, the Irish State €428 million in dividends from Banco de Portugal.
For its part, CGD paid just 83.6 million euros, well below the forecast in a year marked by the precautionary recommendation of the European Central Bank (ECB) to banks following the covid-19 crisis. However, CGD is considering making an extraordinary dividend payment of 300 million euros by the end of this year, as reported by the Business Journal.
Also in this document, in relation to CGD, the Government highlights the conclusion of the 2017-2020 strategic plan, agreed with the European Commission in the recapitalization of the bank, the improvement of capital ratios and profits of 294.2 million euros in the first half of 2021.
According to the executive, this result translates into “a return on equity (ROE) of 7.2%, which allows for the ability to pay dividends to the State shareholder, thus repaying the taxpayers’ effort”.
The report released today also indicates that Banco de Fomento should pay dividends in 2022, with the Government expecting to receive 2,625 million euros from this public financial entity.