Yesterday, the
Repsol Board of Directors agreed to propose to the Annual General Shareholders'
Meeting a total gross dividend of 171 pesetas per share, against the 1995
financial year. Of this, 73 pesetas were paid as an interim dividend in January
of this year. This final dividend of 98 pesetas per share shows a rise of 19.5%
over the final dividend for the previous financial year.
This total
dividend, to be approved by the Annual General Meeting scheduled for June 7th
next, represents a 22% rise over the amount paid out a year earlier.
The
proposed dividend means that pay-out will be 44%, in line with Repsol's policy
to distribute between 40 and 50% of profits as dividend to its shareholders.
Since the company's creation in 1987, it has successively increased its dividend
and its profits.
Approval was also given to the 1995 audited income
statement, to be ratified by the Annual General Meeting. Last year, Repsol
reported a net income of 117,715 million pesetas, 21.6% up on 1994, whereas
operating income rose by 20.1% to reach 212,504 million pesetas. Net cash-flow
was 245,201million pesetas, showing a rise of 10.6% over the previous
year.
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