2023-04-28 15:34:54
Iberdrola’s general shareholders’ meeting has re-elected Ignacio Sánchez Galán as president of the company this Friday, in addition to ratifying Armando Martinez as CEO of the company, with an average support of 98% for all the points proposed on the agenda.
In his speech, Galán defended the company’s strategic plan, in which they expect record profits that “widely” exceed 5,000 million euros in 2025, 25% more than in this year, with an increase in dividends in line with the results. Like the hiring of personnel for that year, which is expected to reach 12,000 new hires.
In addition, he has ensured that the 2023-2025 strategic plan, presented in November, means giving a “giant leap” and will allow accelerating the record investment commitment of 47,000 million euros for this period.
In this sense, the re-elected president has estimated that the global electricity demand could double in the next 20 yearsTherefore, investments of more than 25 billion euros will be necessary, “consolidating” the electricity sector as a “key” agent for economic activity and job creation.
The company remains in the Basque Country
On the other hand, Galán has defended Iberdrola’s commitment to the Basque Country and he has sent a message of tranquility, because they are going to continue in the territory.
“You can be sure that this company has been committed to this land for 120 years and will continue for at least 120 more years. So don’t worry, we’re going to continue here,” Galán confirmed.
In addition, he has ensured that the contribution to the Basque economy represents around 2.5% of the Basque GDP, with some €2.7 billion through investments, purchases and tax contribution.
Galán’s statements about the company’s permanence in the Basque Country come after the Ferrovial shareholders’ meeting approved its transfer from Spain to the Netherlands, a decision that has led to a controversy with the Spanish government.
Approved all items on the agenda
The company’s shareholders’ meeting, with a quorum of 71.9%, has approved all the points on the agenda, with an average support of 98% for all of them. All participating shareholders will receive the participation dividend of 0.005 euros per share.
In this sense, the total shareholder remuneration of 0.49 euros per share has been approved, which represents a new record and 10% more than what was paid a year before. They have also approved a new own share repurchase program to keep the number of outstanding shares stable at 6,240 million shares.
Thus, the board has re-elected María Helena Antolín as external director since Manuel Moreu, Sara de la Rica and Xabier Sagredo as independent directors.
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