Amancio Ortega enters 1,108 million from Inditex dividend, half of what he will receive this year

2023-04-30 15:56:25

The founder and first shareholder of Inditex, Amancio Ortegawill enter this Tuesday, May 2, a total of €1,108.5 million for the first remuneration of the year that Inditex will pay to its shareholders, which means half of what you will receive in dividends of the Galician firm this year.

Specifically, the employer will receive 2,217 million euros this year in dividends from the companyabove the 1,718 million that it received for this concept last year.

In total, theThe company will reward its shareholders with more than 3,730 million euros this year, after raising the dividend by 29%, up to 1.2 euros per share.

Specifically, Inditex’s dividend policy consists of an ordinary ‘payout’ of 60% of the profit and the additional distribution of extraordinary dividends.

Thus, the board of directors will propose to the general meeting of shareholders a 29% increase in the dividend up to 1.2 euros per share, made up of an ordinary dividend of 0.796 euros and an extraordinary dividend of 0.404 euros per share.

The dividend is made up of two equal payments: this May 2, 2023 a payment of 0.60 euros per share, corresponding to the ordinary dividend and on November 2, 2023 a payment of 0.60 euros per share (0.196 ordinary euros plus 0.404 extraordinary euros).

The founder of Inditex, who will receive more than 1,100 million euros in dividends this Tuesday through the companies Pontegadea Inversiones and Partler, with which it controls 59.294% of the textile groupequivalent to a package of 1,848 million euros, invests part of the dividends it receives from Inditex in the real estate sector.

In fact, his latest purchase was the former BBC headquarters in London for around 82 million pounds (about 93 million euros) in mid-April.

In this way, the founder of Inditex becomes the owner of said property, located at number 33 Foley Street, owned by Abrdán. This purchase materialized days after acquiring a building with 120 luxury apartments for rent in the South Dublin port area for more than 100 million euros.

The founder of Inditex invests part of the dividends it receives from the textile company in the real estate sector through its investment firm Pontegadea Inmobiliaria.

Ortega owns the largest Spanish real estate agencyfocused on the purchase and management of large buildings, with a portfolio of real estate assets made up mainly of non-residential office buildings, located in the center of large cities in Spain, the United Kingdom, the United States and Asia.