MADRID (dpa-AFX) - Repsol (REPYY.PK) reported adjusted net income of 4.56 billion euros in the first nine months of the year, of which close to 60% came from the international businesses. Net income from January to September was 3.22 billion euros. Cash generation was particularly relevant in the period, the company stated.
The company noted that it is ahead of schedule in meeting the objectives in 2021-2025 Strategic Plan. Also, the company announced a proposal to increase cash remuneration to its shareholders by 11% in 2023.
The company said it will increase to 0.35 euros gross/share the cash retribution to be distributed to the shareholders next January, while the Board will propose to next year's General Shareholders' Meeting a complementary payment of 0.35 euros gross/share, so that the remuneration in 2023 will increase by 11%, to 0.70 gross/share. This will bring forward the remuneration target set by the Strategic Plan for 2024.
Repsol plans to redeem an additional 50 million shares in the current year, bringing forward by three years the repurchase of 200 million shares and the redemption target set in the 2021 - 2025 Strategic Plan.
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