Sacyr Will Pay Its First Ordinary Dividend Since 2011
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.
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.
Newcomer to the stock exchange, Cellnex (a subsidiary of Abertis in the business of telecommunications networks) and oldtimer Viscofan (which manufactures cellulose wrapping for the food sector) will substitute two new generation construction companies (Sacyr and OHL). Both of these firms are controlled either by families or professionals.
After straightening out the disputes with the Panamanian authorities over the costs related to the Canal works, Sacyr will finally inaugurate it in June. Board member Juan Maria Aguirre points out that the company has succeeded in overcoming the property crash and has drastically reduced its debt levels. Now it has to contend with the unexpected consequences of having an 8.5% stake in Repsol after the oil price bubble burst.
F. Barciela / F.G. Ljubetic | The bios about Carlos Slim, the third richest man in the world according to Forbes, are very clear about the origins of his fortune. He made the most of his money during the peso crisis by acquiring several blocks of shares in the biggest Mexican companies at a bargain prices. This is how he will acquire FCC, one of the biggest Spanish construction firms, for just…7.6 euros per share.
MADRID | By Jaime Santisteban | Spanish Ibex 35 welcomes the week over 10,500 points. “Ukraine showdown and macro numbers will hatch investors’ attention,” Link experts point out. Bankia analysts “see the positive influence of Chinese government statement about share, bond and raw material markets supporting measures. Markets also await remaining corporate results and European countries inflation.” Last week’s Mr Draghi’s words were crucial to stop euro appreciation- the currency is likely to keep going down.
MADRID | By Jaime Santisteban | Almirall, Campofrío and Sacyr are the most recommended values in the Spanish market, according the market consensus. Repsol turned down the offer to renew its two seats in the YPF ‘s board on Tuesday, and fixed its eyes in Norway instead. Also, unemployment in Spain reportedly dropped by 111,565 people in April. “Although this means a turning point in the Spanish economic recovery, the country remains in the deep well,” The Corner senior analyst Fernando G. Urbaneja explains.
MADRID | By Jaime Santisteban | What’s happening with the tech bubble and why it’s spreading to other sectors; the future of renewable energies and how cuts will harm utilities and much more. Oh, and Greece could be back in the bonds market this week…
MADRID | By Julia Pastor | Come to peace terms has not been easy for Spanish company Sacyr and Panama Canal Authority. The pre-deal tacitly accepted by both parties mid February suffered a little setback some days later when hesitations of the project insurer as well as Spanish government’s prevented to sign the contract. On Thursday, the pre-deal became a “conceptual agreement” that hopefully will put a real end point to such a prolonged and complex diplomacy affair.
LATAM CORRESPONDENT David Brunat | Across the Panamanian media political pundits are praising the firmness of their government in this dispute, blaming the GUPC and particularly Spanish firm Sacyr for the standoff and for putting Panama on the brink. The pulse has turned into a nationalistic claim and now foreign companies are being accused of misbehaving in Panama.