Spanish companies Mapfre S.A. (ES:MAP) and CaixaBank (ES:CABK) are providing investors with a dividend yield exceeding 5%. Additionally, they hold a position within the top 10 companies in Spain when it comes to their highest dividend payouts.
In terms of capital growth, Mapfre does not offer substantial opportunities, earning a Moderate Sell rating from analysts. CaixaBank, on the other hand, exhibits a growth potential of approximately 18% and has received a Moderate Buy rating.
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Here, we have used TipRanks Top Spain Dividend Stocks to pick from the leading dividend-paying companies in this market. This tool enables users to conduct comparisons using essential criteria like analyst recommendations, price targets, dividend yield, and other relevant metrics.
Let’s take a look at some details.
CaixaBank, SA
CaixaBank is a prominent financial services conglomerate in Spain, providing a comprehensive range of banking, insurance, asset management, and investment solutions to both individuals and corporations.
The bank carries a dividend yield of 5.12%, higher than the sector average of 2.14%. For 2022, the bank paid a total dividend of €0.23 per share, which is 58% higher as compared to the previous year. It also experienced an increase in its dividend payout ratio, with the ratio rising from 50% of earnings to 55% of profits. In 2022, CaixaBank’s capital requirement stood at a mere 8.3%, indicating the presence of a considerable capital buffer. This robust position allows the company to effectively allocate surplus capital to shareholders.
Moving forward, CaixaBank’s dividend is expected to rise to €0.29 per share by 2024, resulting in a dividend yield surpassing 8%.
CaixaBank Share Price Forecast
According to TipRanks, CABK stock has a Moderate Buy with a total of eight recommendations from analysts. It includes three Buy and five Hold ratings. The average price target is €4.43, which is 18% higher than the current price level.
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Mapfre S.A.
Mapfre is a Spanish insurance company operating in more than 45 countries globally. The company provides various types of insurance, like auto, home, health, and life, along with reinsurance services.
The company has a dividend yield of 6.35% and a 70% payout ratio. It retains 30% of the earnings to enhance the balance sheet’s strength, which assists in mitigating the impact of certain unrealized losses on the investment portfolio. The company paid a final gross dividend of €0.085 per share for 2022 in May 2023. This culminated in total dividends of €0.145 per share for the year, similar to the dividends paid by the company before the pandemic.
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Mapfre Stock Forecast
MAP stock has a Moderate Sell rating based on two Sell recommendations. The average price forecast of €1.69 is 7.8% lower than the current price level.
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Conclusion
Investors looking to boost their passive income may want to consider adding these stocks to their portfolios as potential options.
Among them, Mapfre has received a Moderate Sell rating from analysts, projecting a downside of 7.8%. On the other hand, CBK has a Moderate Buy rating and 18% growth potential in its share price.