On Thursday, Spanish energy firm Repsol announced the rise of its dividend and its plan to buy back shares following its soaring profit.
The company’s quarterly net result was at the highest level since 2018 at EUR623 million (USD727.39 million), higher than the expectations for EUR582 million (USD679.5 million). Repsol is now privileged to increase the 2022 dividend payment by 5% to EUR 0.63/share (USD0.73/share).
The outlook for its earnings before interest, tax, depreciation, and amortization (EBITDA) has also been expanded by EUR600 million to around EUR6.7 billion (USD7.82 billion) based on high prices and strong refining margins.
Repsol revealed its plans to cut the equivalent of 4.9% of its capital, buying back 35 million shares and redeeming treasury shares.
