Repsol announces timetable for capital increase
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 (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
The National Markets and Competition Commission (CNMC in its acronym in Spanish) is processing a circular so that all energy companies which supply electricity, gas and hydrocarbons meet six ratios which constrain their level of debt and dividends in relations to the volume of assets, cash flow, EBITDA or financial costs.
According to a report about dividends from Allianz Global Investors, European companies have an investor-friendly dividend policy compared to their international peers. At the end of December 2018, their average dividend yield across all market segments (based on MSCI Europe) was around 3.8 %.
Intermoney | American companies continue to benefit from the favourable tail winds of solid growth in the world´s biggest economy and from the aftermath of the fiscal reform, which has also served to improvement in payments to shareholders.
Blackrock, the largest fund manager in the world, has raised its holding in the electricity company to 5.008% from the 4.998% it held, and remains the second largest shareholder behind the sovereign wealth fund Qatar Investment Authority (QIA).
Recently renamed Naturgy, Gas Natural has presented its Strategic Plan 2018-2022 to analysts in London. In this new stage, the company will carry out radical changes in its share holding and leadership.
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.
Telefonica is starting the process of preparing a stock market listing for a stake in its currently fully-owned Argentine subsidiary. In the upcoming AGM on April 16, it’s expected that authorisation will be sought from shareholders to go ahead with the share placement.
One of the most objective measures for judging whether the stock market is expensive or cheap is the dividend yield. At the moment, the main global stock markets offer real returns which are superior to those of long-term sovereign bonds. For example, 34 of the 40 biggest French firms, those which make up the CAC40, have increased dividends over the last year.
Sacyr announced yesterday that it will pay a scrip dividend, so that shareholders can choose between a cash payment of €0,052 per share or receive one new share for every 48 currently available.