Repsol: shares rise after strategic plan update
(CercleFinance.com) - Spanish oil group Repsol said on Wednesday that it has updated its strategic plan for 2016 to 2020 after achieving all its targets two years ahead of schedule.
The company plans to increase its payout for shareholders, focusing on profitable business growth, both upstream and downstream, and develop new businesses linked to energy transition.
Repsol will increase its distribution to shareholders, which will reach 1 euro per share in 2020, with scrip dividends accompanied by share buybacks preventing the dilution of those who choose cash payment, it said.
Between 2018 and 2020, Repsol plans to invest 15 billion euros and allocate 2.5 billion euros to low-emission energy projects.
The strategic plan will finance itself at a cautious estimate of a Brent price of 50 dollars per barrel, it added.
All these announcements were cheered by investors in Madrid today, with the Respol share up 3.5% in early trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company plans to increase its payout for shareholders, focusing on profitable business growth, both upstream and downstream, and develop new businesses linked to energy transition.
Repsol will increase its distribution to shareholders, which will reach 1 euro per share in 2020, with scrip dividends accompanied by share buybacks preventing the dilution of those who choose cash payment, it said.
Between 2018 and 2020, Repsol plans to invest 15 billion euros and allocate 2.5 billion euros to low-emission energy projects.
The strategic plan will finance itself at a cautious estimate of a Brent price of 50 dollars per barrel, it added.
All these announcements were cheered by investors in Madrid today, with the Respol share up 3.5% in early trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.