Iberdrola will distribute almost EUR 1 billion in dividends exceeding profit record
- The electricity company has gained 29% more than last year in the first nine months of the year and will provide EUR 890 million in dividends to shareholders. The expected profits for 2022 are EUR 4.2 billion, more than next year’s budget for Osakidetza.
Given the increase in electricity prices as a result of the energy crisis, Iberdrola, the multinational power company with its head office in Bilbao, has already gained EUR 3,014 million this year, 29% more than last year, and various media outlets have explained that by the end of the year the profits may exceed EUR 4,200 million, in line with the company’s plan.
Iberdrola has thus regained its record and its benefits will exceed 3.565 million of Osakidetza’s budget for next year. In addition, the company running Ignacio Sánchez Galán will distribute 890 million euros in dividends to its shareholders, 56% more than the previous year. Iberdrola’s main shareholders are a number of investment funds such as: Qatar Holding, BlackRock or Norges Bank.
This profit forecast includes the tax that the Government of Spain imposes on the energy sector. In fact, in the Spanish State, the growth in profits has not been as high as in general and has been reduced by 14% – by a judicial decision, among others. In this regard, Galán warns that they are going to go to court to withdraw this tax, so that the benefits they are going to collect are even greater.
Of course, Iberdrola has businesses around the world and this year has allocated almost EUR 7.6 billion to projects, especially "renewable" ones. The production of PV and wind power plants owned by Iberdrola has increased by 13% in 2022.
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