Paula María Madrid
Madrid
Updated Thursday, February 22, 2024-09:08
Rain of dividends at
Repsol
.
The leading Spanish oil company closed 2023 with a profit of 5,011 million euros, 26% less than in 2022 marked by a historic increase in fuel prices.
Despite the cut, the new 2024-2027 strategic plan that the company led by Josu Jon Imaz
presented to the market today
, raises
shareholder remuneration to a maximum of 10,000 million euros
for the next four years.
This investor reward is the result of a combination of a 3% annual increase in the cash dividend for the period and a share repurchase plan.
In short, the company plans to allocate up to 35% of the
cash flow
it obtains from its activity to the remuneration of its shareholders, compared to the 30% limit contemplated in the previous plan.
Of course, Repsol does not want to choose between dividend and investment.
The new roadmap commits investments of between
16,000 and 19,000 million euros net over four years
.
Of the total, 35% will go to low carbon projects.
Geographically, 60% will go to the Iberian Peninsula, while 25% will go to the United States.
This investment margin of 3,000 million euros is not marked at random.
The group has sent a message to the Government by conditioning the exact amount that will be allocated to Spain to the evolution of macroeconomic and regulatory conditions.
That is, to the evolution of the
imposition
of the Executive of Pedro Sánchez, who months ago announced a review of the rate to incorporate deductions for strategic investments, which Moncloa has not yet finalized.
The group reduced its net debt in 2023 to 2,096 million euros, 7% less than in 2022. The figure includes the impact of the acquisition of 49% of Sinopec in the United Kingdom.