Repsol triggers the dividend to record levels after raising profit by 66%

Rain of dividends at Repsol.

After almost doubling profits in the first nine months of the year, the company led by Josu Jon Imaz has decided to

in 2023, to 0.7 euros per share, which implies advancing a year the target set in the group's strategic plan for 2024.

The oil company has closed the third quarter with a net result of

, 66% more than in the same period of 2021. From the company they point out that this figure only partially compensates the losses that the group accumulated during the years 2019 and 2020 , within the framework of the health crisis, amounting to more than 7,100 million.

The group is also going to

, up to a total of an additional 50 million, which will advance the target set for 2025 by three years, as reported to the National Securities Market Commission (CNMV) this Tuesday. Thursday.

The energy company chaired by

the generation of cash in the period, which, in application of the company's Strategic Plan, has allowed a 62% reduction in debt since the beginning of the year, an increase in shareholder remuneration and an increase in of the investments of 47%, up to a total of 2,397 million euros.

In the current context of the energy crisis, Repsol has highlighted that the discounts applied at its Spanish service stations have benefited its customers, with savings worth more than

, since last March.

These discounts, being additional to those approved by the Government, have been charged to the company's accounts.

The group has allocated more than

to increase its inventories, the country's strategic fuel reserves, in the first nine months of the year, in order to improve the guarantee of supply to Spain in a situation of permanent threats to the supply of gas to Europe by Russia.

The trajectory

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