In a scenario of oil prices (Brent) at $35 and Gas (Henry Hub) at $1.8, Repsol has drawn up a contingency plan to deal with the impact of COVID-19. This includes cancelling the extra share buyback for 5% of capital due to be executed in May, which, totalled 1Bn euros, but maintaining its dividend at €1 per share. The company also flags that it has sufficient liquidity to deal with this situation at least until 2024.
Repsol (REP) has communicated the timetable foreseen for the capital increase approved by its last Shareholder General Assembly within the framework of the “Repsol Flexible Dividend” Programme
Repsol´s new strategic plan up to 2020 envisages dedicating 2.5 billion euros to drive the growth in energy businesses with low carbon emissions and a dividend of 1 Euro by 2020. It will use the “scrip dividend” formula, combined with a programme of share buy back.