iberdrola increases its dividend After a year of skyrocketing results. The electricity company announced its interim dividend for 2023, which will be paid at the end of January and to which complementary shares will be added, with a strong increase of 12.2% to 0.202 euros gross per share. The dividend must be approved at the next general meeting, which is expected to be paid in July.
The sharp rise in new casual fees came just three months before the group made the announcement. new strategic plan, next March 21In line with growing financial results and having already exceeded the targets of the latest update of its corporate roadmap, which promises record profits, investment and dividends by 2025, it foresees a more than foreseeable recovery in dividends in the coming years.
The company announced its intention to increase the interim dividend by 11% last October Although the wage floor promised to shareholders by 2025 has been reached – up to 0.20 euros per share. The power company has now announced an even bigger improvement than expected.
In the latest update of its strategic plan announced in 2022, Iberdrola promised an improvement in dividends in line with expected profit growth in the coming years. The group then revised its pricing policy pay Between 65 and 75% (i.e. it will distribute 65 to 75% of annual profits to its shareholders). With this guidance, the electricity company planned to achieve a base dividend of between 0.55 and 0.58 euros per share in 2025, 0.46 euros in 2023-24 and 0.50 euros in 2025.
How and when this dividend will be collected
The electric company offers its shareholders: three payment options Distribution of the 2023 interim dividend within the framework of the flexible remuneration program: Collecting the amount corresponding to the interim dividend in cash, selling the allocation right in the market or receiving the group’s newly issued shares free of charge. Iberdrola announced a capital increase of a maximum amount of 1,304 million euros to address this new version of its pricing system.
The three options can be combined, so the shareholder can choose one of the alternatives or combine them according to his preferences. Iberdrola’s flexible remuneration system offers the option of purchasing new shares by default, so shareholders who prefer to receive their compensation in cash must notify their bank between 9 and 23 January. Shareholders who choose to purchase new shares must have 58 free allocation rights in order to receive a new company title.
The dividend distribution plan anticipates that the company will announce this Friday the number of free allotment rights required to buy one share and the gross interim dividend per share. Next Monday, January 8, will be the last day on which shares with the right to participate in dividends will be traded, and the election and trading period of free allocation rights, which will end on January 23, will begin on January 9. . The shares will be delivered or an interim dividend will be paid on January 31, and the new securities will begin trading on February 2.