Ferrovial Will Start Receiving Dividends From A US Motorway In 2019

Ferrovial TexasFerrovial wins US motorway extension contract

Ferrovial will have a new source of dividends in 2019, when it will begin to receive them from one of the motorways it operates in Texas (US), the North Tarrant Express, the 21,4 kilometres long road linking Dallas and Forth Worth. The company headed by Rafael del Pino will start to receive remuneration due to its 63% stake in this concession, which forms part of the so-called “managed lanes”, motorways with fast lanes with electronic tolls.

This dividend will be in addition to the 514 million euros the company already receives from other concessions it manages, like its two “jewels in the crown,” the ETR-407 in Toronto and London Heathrow’s airport. Also the three other UK airports of Aberdeen, Glasgow and Southampton.

Then in 2020 it will also start to receive a dividend from another of its Texan motorways, the LJB, another 21 kilometres of ‘managed lanes’ around Dallas.

Bankrupt motorways

With regard to the motorways sector in Spain, Ferrovial CEO, Íñigo Meirás, said the company has still not decided whether it will participate in the public tender which the Public Works Ministry will launch to give back to private companies the nine bankrupt motorways which it is bailing-out.

Ferrovial had stakes in two of the bankrupt motorway concessions, namely the AP-36 Ocaña-La Roda, which was taken over by Fomento last month, and the R-4 Madrid-Ocaña, the first one to be bailed out by the government at end-February.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.