Iberdrola’s US Subsidiary Will Invest $ 9.6 Bln Until 2020

In 2015, Iberdrola posted a 4.1% rise in net income to €2.42 billion euros from a year earlier and raised its dividend payout for the first time in four years. Today, chairman Ignacio Sanchez Galan will present Spain’s largest power company’s strategic plan for the next four years.

Avangrid, the company born of the merger between Iberdrola and UIL assets, is going to launch a $ 9.600 billion investment plan until 2020.

Of this total amount, 69% will be earmarked for growth, including new projects focused on renewable energy, networks or electric transmission assets between the US and Canada.

The company expects net profit to grow 8-10% between 2014 and 2020. In addition, Avangrid expects EBITDA to expand by 5%-7%. The firm is considering a 65-75% pay-out to shareholders, with a minimum dividend of $ 1.728 gross per share.