Record spring on the stock market: the keys and the calendar of the Ibex dividend rain in 2026
The Spanish selective leads profitability on the continent driven by the historical profits of banks and energy companies
BarcelonaThe arrival of spring not only brings the time change and milder temperatures. For investors in the Spanish stock market, it is the starting gun for the most lucrative period of the year. In 2025, the Ibex-35 reaffirmed itself as the one with the most generous remuneration in the Old Continent. According to the latest market data, the Spanish selective index leads dividend yield in Europe, thus breaking its own record of payments in a year marked by the strength of business results.
While other European indices show greater restraint, the listed companies on the Madrid stock exchange have opted for a much more aggressive "payout " policy (the part of the profit that is distributed). Banks and energy companies, driven by a 2025 of historic profits, are the main drivers of this wave of liquidity that will flood investors' portfolios during the months of April, May, and June.
The protagonists of the season
If we look at the podium of dividend yield –the percentage that the coupon represents on the share price–, this year's 2026 ranking is led by mature sectors with strong cash generation:
Banc Sabadell: The entity of Vallesà origin leads all predictions. The market expects a payment of around 0.12 euros per share (although some firms place it at 0.07 euros) which would be distributed at the end of April. But the key is the extraordinary dividend: the possible distribution of 0.50 euros in May, as a result of the sale of its British subsidiary (TSB). If confirmed, the total yield could climb above 18%, an exceptional figure in the current market. Naturgy: The Catalan energy company is one of the first to "go to the till". With a gross payment of 0.57 euros per share on March 31, it closes a total distribution of 1.77 euros from the previous financial year. This places its dividend yield at a stable 7%. CaixaBank: Despite the volatility, it remains the most resilient bank of the year. This Thursday it distributed 0.332 euros gross. In total, shareholders will have received 0.50 euros for the 2025 results, representing a return of 5%, one of the most solid in the European banking sector. BBVA: The entity chaired by Carlos Torres breaks its own records. This Friday it paid 0.60 euros gross per share as a complementary dividend. With this move, the total dividend for the year rises to €0.92, an increase of 31% that reflects the bank's optimism about its capital. Unicaja: The Malaga-based bank surprises with its distribution effort. On April 23rd, it will pay out 0.107 gross euros. In total, the dividend of 0.17 euros per share raises the expected profitability above 8%, which positions it as the bank that dedicates the largest proportion of its earnings to investors. The Catalan accent in the cast
The Catalan prominence in the distribution of profits is not limited to the giants of the financial system and Naturgy. Companies like the Sant Cugat-based Fluidra or the Barcelona-based Cellnex have confirmed a shift towards remuneration for shareholders. Even Grifols, in full financial restructuring, plans to resume the path of remuneration this quarter.
Colonial: The market anticipates that the SOCIMI will distribute a dividend of approximately 0.30 euros gross per share in June. With the current share price, this represents a yield close to 6%. This figure is particularly relevant because it confirms that, despite the interest rate environment, the value of its assets and the occupancy of its offices (which is close to 100% in many segments) allow for a constant and growing cash flow. Cellnex: The Catalan tower operator has marked a historic turning point. After years focused on growth through acquisitions, this January 2026 it already took a giant step by distributing its first major dividend (0.37 euros), the second payment of the same amount will arrive in July. It is a change of stage that seeks to satisfy the shareholder once operational maturity has been reached.Fluidra: The pool multinational headquartered in Sant Cugat is confident in the evolution of the business and has proposed a dividend of 0.65 euros per share, 8% more than in the previous year. The first payment, of 0.32 euros, will be made on July 14. Puig: The perfume and fashion company has proposed the distribution of a dividend of 0.42 gross euros per share. This payment represents distributing a payout of 40% of the profit, which reinforces Puig as an option for stable returns in the luxury sector.