Dividend policy statement
In determining the level of dividend in any year, the Board considers several factors, including:
- Earnings of the Group;
- On-going cash requirements and prospects of the Group and its operating companies;
- Levels of distributable reserves by operating company and efficiency of upstreaming options;
- Dividend coverage; and
- Its intention to distribute regular returns to its shareholders in the medium and long-term.
Full year 2018 Dividend statement
The Board is proposing a final dividend to shareholders of 16.5 euro cents per share, which brings the full year dividend to 31 euro cents per share. Given the Group’s strong cash position the Board is also proposing a special dividend of 35 euro cents per share, returning approximately €700 million to shareholders. Subject to shareholder approval at the Annual General Meeting, the final and special dividends will be paid, on July 8, 2019 to shareholders on the register on July 5, 2019.
Payment date *
* The payment date for the UK register (held as CDIs) will be approximately 10 days later than the payment date for shares held through the Spanish register. For more information please see the dividend FAQ included in the Private Shareholder section of our website.
** Spanish Withholding Tax of 19% was deducted from the 5 euro cents relating to net profit, no withholding was applicable to the 5 euro cents that relates to Share Premium.