16 June 2021. The Euskaltel Group will distribute an additional dividend of Euros 30 million tomorrow, 17 June, amounting to Euros 0.17 gross per share outstanding with dividend rights.
The distribution of this additional dividend for the year ended 31 December 2020 was approved at the ordinary general shareholders' meeting held online on 2 June.
The final dividend to be paid to shareholders against 2020 results will be Euros 0.31 per share. This means that the total dividend amount distributed by Euskaltel is Euros 55 million, representing a 2.8% return per dividend.
It is important to note that Euskaltel?s Board of Directors agreed in December 2020 to pay an interim dividend to the Company?s shareholders against 2020 results for a gross amount of Euros 0.14 per share outstanding with dividend rights, which was paid out on 12 February 2020.
This is the fifth consecutive year that a dividend has been paid out since the company was floated on the stock exchange in July 2015. Furthermore, this dividend distribution demonstrates the Group's commitment to its shareholders and reinforces the objective to add value to investors.
This dividend distribution refers to 2020, a year that stands out for the successful launch of the company's national expansion plan through the Virgin telco brand, which currently has over 115,000 customers. The company has also announced an ambitious project to upgrade its cable network to fibre, having already deployed this fibre network to over 45,000 homes. The commitment to creating shareholder value by distributing dividends while undertaking ambitious expansion and investment projects proves the strength of the Euskaltel project. The company closed 2020 with a record profit of Euros 79 million and operating cash flow generation of Euros 165 million.
As noted earlier, on 1 February Euskaltel joined the IBEX TOP DIVIDENDOŽ index following the ordinary review by the Technical Advisory Committee for IBEX TOP DIVIDENDOŽ at their meeting held on 26 January, in accordance with the Technical Standards for Compiling and Calculating IBEX Indices.
This decision reflects Euskaltel's good track record in terms of profitability, which is once again confirmed by its dividend policy, as a result of the company?s solid results.
The IBEX TOP DIVIDENDOŽ is made up of the 25 securities with the highest dividend yield from those included in the IBEX 35, the IBEX Medium Cap and the IBEX Small Cap indices, provided they have an ordinary dividend payment track record of at least 2 years. The weighting of components is based on the ordinary gross dividends paid out in the last 12 months and is adjusted for free float and liquidity, capped at 10%.
Euskaltel - Communication Department
comunicacion@euskaltel.com