April 12th, 2005 , Barcelona
abertis plans to increase the dividend per share to 0.50€, representing an increase of 16%
GENERAL SHAREHOLDERS MEETING 2005
The abertis corporation today announced its intention of increasing the dividend per share to 0.50€ which means an increase of 16% relative to the dividends paid in 2004, and also to include the increase in bonus issues. (see graph on page 11). The new amount for the dividend per share requires the Board of Directors to approve the increase of dividend on account for 2005 to 0,25€ during the second half of the year, since the complementary dividend, -also of 0,25% - was today approved at the General Shareholders Meeting.
The president of abertis, Isidre Fainé, stated, during the course of the General Shareholders Meeting, that the company intends to make this total increase of dividends “after in depth consideration on the foreseeable evolution of the businesses within a reasonably stable financial framework, the estimated effect of the New International Accounting Rules on our results and the growing contribution of expanding investments”.
According to the President of abertis this “in-depth” consideration was necessary because we would like this amount of complementary dividend, approved today by the General Shareholders Meeting, to set the new stable level for the next payments , both for the dividend on account as well as the complementary dividend”. “This wish, he pointed out, of consolidating a new level with respect to the one that was maintained until now, without for this reason not carrying out the increases in bonus issues, should be possible within the framework of the selectivity of our investments, consolidation of all our businesses and the proven strength of the financial structure”.
During the Meeting, the distribution of a complementary dividend was approved to be charged to the results for the 2004 fiscal year of 0.25 Euros gross per share, representing an increase of 12% relative to the previous year, and which will be paid on April 20 next. The total dividend to be charged to the 2004 results will be 0.479 Euros per share, 6% over 2003. The total sum of dividends increases by 11% as it will be applied over a greater number of shares as a consequence of the increase in capital and means an outlay of 264.1 million Euros. In this sense the Meeting approved a traditional increase in bonus issue in the proportion of one new share for every twenty of the old shares, which will take place during the months of June and July.