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Enagas to maintain sustainable dividend from 2024

Oil&Gas Materials 1 July 2020 12:12
Enagas to maintain sustainable dividend from 2024

BAKU, Azerbaijan, July 1

By Leman Zeynalova – Trend:

From 2024, the Spanish Enagas company plans to maintain a sustainable dividend of 1.74 euros per share, Trend reports citing the company.

The General Shareholders’ Meeting approved a total dividend of 1.60 euros per share for 2019, 5 percent higher than in 2018.

The Chairman, Antonio Llardén pointed out that one of the company's priorities is to offer shareholders attractive and sustainable remuneration, and he reiterated that the company was committed to increasing the dividend by 5 percent a year until 2020 and by at least 1 percent a year for 2021, 2022 and 2023. “From 2024 and until 2026, with the data we have today, we are committed to maintaining a sustainable dividend of 1.74 euros per share,” he added.

Llardén, stressed that Enagás has solid pillars that have enabled it to maintain its activity “in an environment of constant uncertainty”, and added that this situation has been possible “thanks to a prudent strategy driven by a clear purpose and without relying on short-term goals.”

Llardén said that, thanks to the Covid-19 Contingency Plan implemented by Enagás since the beginning of the pandemic, the Spanish Gas System has functioned with total normality, without any labour-related, technical or operational incidents.

Specifically, since the beginning of March and until the end of the State of Alarm, a total of 74 methane tankers have unloaded in regasification plants in Spain, the network of about 12,000 kilometres of pipelines has operated without any incident and natural gas has been injected into the company’s three storage facilities —Gaviota, Yela and Serrablo— taking advantage of the low prices in global markets, and with a view to being ready for possible future needs.

The main milestones for 2019 included closing the year with a stable regulatory framework for the 2021-2026 period, and the fact that demand for natural gas in Spain increased by 14 percent, with an exponential increase in the use of gas infrastructures and a volume of gas unloaded at the regasification plants 44 percent higher than the previous year.

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