IBERDROLA’s Board of Directors, meeting today in Bilbao, resolved to propose to the General Shareholders Meeting a cash dividend payment for 2011 amounting to at least the gross €0.03 per share paid against 2010 results. The proposal includes a new instalment of the Iberdrola Flexible Dividend scrip dividend plan.
Under this plan, which gives shareholders the choice of receiving free shares or selling their subscription rights either to IBERDROLA or on the open market, the Company commits to acquiring the rights for at least €0.15 before tax. This figure is calculated on the basis of share capital amount and current market conditions.
This gross payment of €0.18 per share would be in addition to the €0.146 purchase price for subscription rights under the previous instalment of the Iberdrola Flexible Divdend plan paid out in January and corresponding to the interim 2011 dividend.
Subject to approval at the next General Shareholders Meeting, total shareholder remuneration for 2011 is estimated to be in line with the gross €0.326 per share paid in 2010.
The Board of Directors, which will also propose to shareholders the payment of a second scrip dividend at the end of the year in relation to the 2012 interim dividend, today approved the Group’s annual accounts and management report for 2011.
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This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of IBERDROLA, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.
This communication contains forward-looking information and statements about IBERDROLA, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance.
Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates” and similar expressions.
Although IBERDROLA, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of IBERDROLA, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of IBERDROLA, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
These risks and uncertainties include those discussed or identified in the documents sent by IBERDROLA, S.A. to the Comisión Nacional del Mercado de Valores, which are available to the public.
Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of IBERDROLA, S.A. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to IBERDROLA, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to IBERDROLA, S.A. on the date hereof. Except as required by applicable law, IBERDROLA, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.