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09/01/2014
IBERDROLA AGAIN OFFERS SHAREHOLDERS FREE COMPANY SHARES OR €0.126 PER SHARE CASH PAYMENT

  • In a new edition of the ‘Iberdrola Flexible Dividend´ programme corresponding to what would have been the 2013 interim dividend
  • 36 free subscription rights will be required in order to obtain each new IBERDROLA shares without cost and free of withholding tax
  • Shareholders who opt to receive the remuneration in cash can sell their rights to IBERDROLA at guaranteed fixed purchase price or on the open market

IBERDROLA, in a new edition of the Iberdrola Flexible Dividend programme, which offers its shareholders the possibility of obtaining Company shares without cost and free of withholding tax, today notified the Spanish National Securities Market Commission (CNMV) that 36 subscription rights will be required in order to obtain each new Company share.

This eighth edition of the Iberdrola Flexible Dividend corresponds to what would have been the 2013 interim dividend and once again offers shareholders the option of obtaining new Company shares or receiving the remuneration in cash.

Shareholders who choose remuneration in cash the second option, should make their preference known between 11 and 22 January, since the scrip dividend will be considered the option by default.

Shareholders who opt to receive the remuneration in cash can sell their rights to IBERDROLA under the conditions established by the Company or on the open market. If they take the first option IBERDROLA guarantees to pay €0.126 per share, subject to withholding tax of 21%. Under the second option shareholders will not be subject to withholding tax but will not benefit from the guaranteed fixed price offered by IBERDROLA.

As is the custom, the option by default will be the issue of new shares. Shareholders who prefer to receive remuneration in cash must sell their rights to the Company between 11 and 22 January, or on the open market between 11 and 27 January.

IBERDROLA thus fulfills a commitment last October when, during the presentation of its third quarter 2013 results, announced that it would offer a price of at least €0.125 per share gross corresponding to the 2013 dividend interim.

As part of this new edition of the Iberdrola Flexible Dividend programme, the Company´s Board of Directors approved, last November, a capital increase for a maximum market reference value of between €800 and €845 million- This amount has been set finally today at €807 million.

The calendar for the new edition of the programme is as follows:

  • 10 January 2014: Notification of the capital increase taking effect in the Boletín Oficial del Registro Mercantil. It is also the reference date for assigning free allocation rights.
  • 11 January 2014: First day of trading of the new free subscription rights and start of period for requesting remuneration in cash by virtue of IBERDROLA’s purchase commitment.
  • 22 January 2014: Deadline for requesting remuneration in cash under the commitment assumed by IBERDROLA.
  • 27 January 2014: End of the trading period for new free subscription rights and acquisition of the same by IBERDROLA from shareholders who have opted to receive cash.
  • 30 January 2014: Cash payment to shareholders who have chosen to sell their free subscription rights to IBERDROLA under the commitment assumed by the Company.
  • 3 February 2014: Allocation of registration reference numbers to new shares.
  • 5 February 2014: The date envisaged for the new shares to start trading on the continuous market.

IMPORTANT INFORMATION

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 exception 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 public documents sent by Iberdrola, S.A. to the Comisión Nacional del Mercado de Valores.

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 on its entirety by the cautionary statement above. All the 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.

 

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