21 Apr 2020

The Shareholders’ General Meeting of Abertis has approved a dividend of €875m of which 50% will be paid on 28 April and the remaining 50% is to be paid by the end of the year subject to verification by the Board of Directors of Covid-19 impacts

  • This decision is driven by recent events, characterised by the restrictions imposed to control the spread of the coronavirus and the economic crisis generated in this context.

Abertis Infraestructuras has a strong liquidity position of more than € 5bn and has no relevant debt maturities until October 2022 (a period of more than 2 years). But recent events, the sharp reduction in traffic currently observed, and the potential change in economic perspectives for the short and medium term suggest the application of an even more prudent financial policy.

In the case of Abertis, S&P Global has reaffirmed the BBB- rating of the company, confirming the Investment Grade status of Abertis. In the current context of uncertainty the rating has been placed on Negative Outlook while the magnitude of impacts and the speed of recovery of traffic are being evaluated.

The Shareholders’ General Meeting held today has approved the proposal for a dividend of €875m, of which 50% will be paid on 28 of April. The decision on the payment of the remaining 50% has been delegated to the Board of Directors of Abertis. The Board will review the matter later in the year and will evaluate whether the payment of the remaining 50% is consistent with the interests of the Company, including the protection of the existing level of rating.

Abertis welcomes the support of its shareholders in defence of the solidity of the company and the flexibility they have demonstrated on the distribution of the dividend. This measure also reinforces the capacity for growth and development of Abertis.