IBERDROLA BOARD OF DIRECTORS APPROVES SHARE CAPITAL REDUCTION OF 2.4%
IBERDROLA Board of Directors, meeting today, has approved a share capital reduction of 2.4%, according to the proposal validated by the General Shareholders’ Meeting held on March 22 in Bilbao.
The share capital reduction will be carried out through the amortization of treasury stock and a share repurchase plan for subsequent amortization.
Through the implementation of its share repurchase plan over the last few weeks, the Company has acquired in the market 68.48 million shares, representing 1.09% of share capital. This amount is sufficient to meet commitments to the Group's employee stock options plan and meet the programme’s objective.
In this regard, IBERDROLA has reduced its share capital by €113.06 million, via amortization of 150.74 million treasury stock shares, with total share capital standing at €4,597.82 million represented by 6,130.43 million shares.
Calendar for the seventh edition of Iberdrola Flexible Dividend plan
In addition to implementing the share capital reduction, the Board of Directors also approved, today, the calendar for the new edition of the Iberdrola Flexible Dividend plan, corresponding to the final dividend payment against 2012 results.
In the seventh edition of the scrip dividend plan, whereby shareholders can opt between receiving the dividend in cash and obtaining company shares at no cost, IBERDROLA will offer shareholders a dividend of at least €0.157 gross per share, confirming the announcement made in April.
Taking into account the interim dividend paid out in January (€0.143 per subscription right), in the sixth edition of Iberdrola Flexible Dividend plan, total shareholder remuneration will be thus maintained around €0.30 per share.
The final calendar for the latest edition of Iberdrola Flexible Dividend plan is as follows:
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