The Euskaltel Group will pay out a supplementary dividend of Euros 26.9 million on 5 July
Derio, 1 June 2018. The Euskaltel Group's Board of Directors agreed, following this morning's General Meeting, to set 5 July 2018 as the date on which the supplementary dividend will be paid out of 2017 profits in the gross amount of Euros 0.151 per share.
In October, Euskaltel's Board agreed to pay out an interim dividend against 2017 results for a gross amount of Euros 0.127 per share, totalling Euros 22.7 million, which was paid out on 1 February 2018.
The Board of Directors therefore later agreed to ask the Annual General Meeting to approve a supplementary dividend of Euros 0.151 per share, totalling Euros 26.9 million, to be paid out on the date agreed at the Board meeting held immediately after the General Meeting, that is 5 July.
This means that the total dividend paid out by Euskaltel is Euros 49.6 million, entailing a yield of 3.9% above the average share price for the final month of 2017, equivalent to a payout of 100% of net profits.
During his speech to the Annual General Meeting, the Euskaltel Group's Chairman, Alberto García Erauzkin, pointed out that "the Group maintains its dividend policy based on consolidated net profit, in a trend that is expected to grow in a sustainable way".
The Group's CEO, Francisco Arteche, ended his speech by ratifying the commitments announced to the market. "We will press on with our policy of financial discipline and a reasonable level of debt to maintain remuneration in the form of dividends, so as to generate value for our shareholders".
Euskaltel - Communication Department
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