Iberdrola SA will distribute EUR 0.409 ($0.48) per share as a supplementary dividend for 2024, raising total shareholder remuneration for last year’s results to EUR 0.645 gross per unit.
The total 2024 distribution represents a 15.6 percent increase from the previous year, the Spanish multinational power utility said in an online statement.
“Investors will have three options: to receive the amount corresponding to their supplementary dividend (EUR 0.409 gross per share) in cash; to sell their rights on the market; or to obtain new bonus shares from the group free of charge”, Iberdrola said. “These three options are not mutually exclusive, so shareholders can choose one of the alternatives or combine them”.
Iberdrola had already paid an interim dividend of EUR 0.231 gross per share in January, followed by an “engagement dividend” of EUR 0.005 gross per share that the company pledged for reaching a quorum of 70 percent of its share capital at the meeting of shareholders last May.
“Iberdrola is ahead of schedule in meeting its commitment to establish a dividend of between EUR 0.61 and EUR 0.66 per share in 2026”, it said.
Iberdrola scheduled July 23 for the release of its results for the first half of 2025.
For the first quarter (Q1) it had reported EUR 12.86 billion in revenue, up 1.5 percent from the same three-month period last year.
However, net profit fell to EUR 2 billion, or EUR 0,302 per share – compared to EUR 2.76 billion for Q1 2025. Earnings before interest, taxes, depreciation and amortization (EBITDA) dropped from EUR 5.86 billion for Q1 2024 to EUR 4.64 billion for Q1 2025.
“Excluding the capital gains from the divestment of thermal generation assets in the first quarter of 2024, net profit increased by 26 percent and EBITDA increased by 12 percent”, Iberdrola said in its quarterly report April 30.
Iberdrola credited a record quarterly investment of EUR 2.72 billion for the pre-divestment increase in earnings.
“The 12 percent increase in EBITDA was due to strong operational performance, with an increase in the company’s regulated profile, as 52 percent of EBITDA come from the Networks business, affected by the recognition of costs incurred in previous years under IFRS [international financial reporting standards] in the US”, Iberdrola said. “The contribution of the Electricity Production and Customers business decreases 8 percent, with a higher production in the United States, Rest of the World and Iberia, which partially offset the normalization of the margins in Iberia and in the United Kingdom”.
Iberdrola reported a net production of over 35,500 gigawatt hours (gWh), down 13.3 percent year-on-year as declines in gas combined-cycle generation and cogeneration offset a renewables increase to more than 25,200 gWh. Electricity supplies totaled nearly 23,900 gWh, down 5.1 percent against Q1 2024. Gas supplies were almost 14,800 gWh, up 3.7 percent year-on-year.
Cash flow climbed 11 percent to EUR 3.5 billion. “The entry into operation of offshore wind projects in the coming quarters and investments in networks will improve cash generation”, Iberdrola said.
To contact the author, email jov.onsat@rigzone.com
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