Repsol plans to increase shareholder payouts up to €10bn by 2027, with €4.6bn in cash dividends and up to €5.4bn in stock buybacks.
Repsol shares rose 5.1% after the Spanish oil-and-gas company announced plans to increase shareholder payouts up to €10bn by 2027, consisting of €4.6bn in cash dividends and up to €5.4bn in stock buybacks. The company raised its dividend by 30% to €0.90 per share for 2024, intending to increase it by 3% annually, with €4.6bn in cash distributed to shareholders over the four-year period. Despite a decline in Q4 net profit to €383m and revenues of €15.51bn, Repsol plans €16-€19bn in net investments over the next four years, with around 35% allocated to low-carbon initiatives.
February 22, 2024
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