MADRID, 26 Oct. (EUROPA PRESS) -

Corporación Financiera Alba, the 'investor arm' of Banca March, will propose, at its next extraordinary general meeting of shareholders, to increase its share capital by up to a maximum of 58.24 million euros to implement a flexible dividend.

The firm has explained in a communication to the National Securities Market Commission (CNMV) that the proposed capital increase "seeks to offer shareholders a flexible remuneration mechanism, which allows them to choose between continuing to receive a fixed amount in cash or receive additional shares of the company free of charge".

The capital increase would be carried out through the issuance and circulation of the new shares, which will be ordinary titles with a par value of one euro each, of the same class and series as those currently in circulation.

Likewise, the increase will be made entirely from the entity's voluntary reserves account, whose balance amounted to 3,890 million euros as of June 30, 2022.

The board of directors will have a period of one year from the date of the agreement, during which it can set the conditions and specify the date that is not present in the document.

The extraordinary general meeting of shareholders will be held on November 29, 2022 at first call and, failing that, on November 30 at second call.