This pay-out would imply a shareholder remuneration of 4.2%, 4.4% and 4.6% respectively. This is totally in line with analysts’ expectations. As Bankinter says: “AENA already increased its dividend pay-out to 80% in 2017. Given the company’s strong cash generation capacity and the lack of significant investment alternatives, we thought it was highly likely it would improve shareholder remuneration even more.”
Aena has also revealed the main lines of its strategy, confirming it is looking for a financial partner to embark on international expansion. It also plans to expand its capacity in real estate in Madrid and Barcelona, as well as keep a strict control on costs. It will also try to diversify its revenue sources, boosting international traffic, particularly Asia. We will have to wait until June 7 to find out the details of this strategy.