MADRID, 12 Jul. (EUROPA PRESS) –
Naturgy shares led the rises of the Ibex 35, with a rise of almost 2.7%, after announcing that it will update its ‘road map’ to 2025 and will raise its dividend to a floor of 1.40 euros per share.
Specifically, the titles of the energy company chaired by Francisco Reynés rose 2.68% at 10:33 am, up to 26.45 euros, thus pulling the Spanish selective.
The energy company announced this Wednesday before the opening of the market that it will proceed to update its objectives to 2025, coinciding with the presentation of its results for the first half of this year on July 24, in which the floor of the annual dividend will be revised upwards. for the years 2023-25 up to 1.40 euros per share.
Naturgy’s board of directors met this Tuesday with the aim of analyzing the evolution of the 2021-2025 strategic plan, which is in the middle of its execution, and reassessing the dividend policy as promised in July 2021.
In addition, the management team has updated the status of the Geminis project, announced in February 2022 for the division of the company into two -one in which the regulated businesses are integrated and another with the rest- but which has been parked since then, and the governing body of the company has verified “its strategic sense and has summoned the team to continue analyzing the possible execution alternatives and their associated calendars”.
Thus, after reaching the middle of the execution of its strategic plan to 2025, Naturgy has exceeded all its committed objectives, thus reviewing and improving expectations for the coming years.
For this reason, the governing body of the company reviews the floor of the annual dividend for the years 2023-2025 at 1.40 euros a share, always subject to maintaining a credit rating of ‘BBB’ for S
Last March, Reynés, on the occasion of the general meeting of shareholders in which he was re-elected executive president, already promised to distribute in this 2023 a dividend “at least equal to that of 2022 of 1.20 euros per share” , with which the company now takes its commitment to remuneration with its shareholders much further.
The energy company considered that this new land for the 2023-25 period is “consistent with the average ‘payout’ of 85% announced in July 2021.”
Based on current share prices, this represents a return of 5.4% and “compensates the thousands of shareholders of the company for the rise in costs due to interest rates and inflation,” he added.
In this sense, the board recognizes “the high degree of commitment” of the entire Naturgy team, which “has made a decisive contribution to achieving these results despite a difficult and volatile situation in the energy markets”.
The update of Naturgy’s ‘roadmap’ includes an increase in the group’s gross operating profit (Ebitda) to 5,100 million euros in 2025, compared to the 4,800 million euros previously forecast, as well as a reduction in investments to 13,200 million euros, compared to the 14,000 million previously estimated for the period 2021-2025.
Energy sources indicated that after the good performance of the 2018-2022 strategic plan, in which the company exceeded its established commitments, Naturgy “has reviewed and improved the prospects for the coming years contained in its roadmap for the period 2021- 2025”.
“The group’s results demonstrate the effort and good work of the entire team and the new forecasts confirm their high degree of commitment. This is a reflection of the solidity of Naturgy’s industrial project. Between 2021 and 2025 we are going to invest to develop our industrial plan more than 13,000 million euros”, they added.
Meanwhile, the net debt target of the energy company led by Francisco Reynés places it at 16,000 million euros in 2025, compared to the previous 16,900 million euros.
