The Chairman presents the main projects and investments for Horizon 2014
Repsol holds its Annual General Meeting
Press Release30/04/2010 17:21
The gross dividend for 2009 was 0.85 euros per share, representing a 66% pay-out.
During 2009, the company carried out a record exploration campaign with 15 important finds, three of which are amongst the world’s biggest discoveries.
In the first quarter of 2010, all Repsol business areas increased their earnings, Upstream 133.5%, LNG 209.1% and Downstream 25.8%. YPF also increased 27.2% and Gas Natural Fenosa 51.5%.
Operating income for the first quarter was 1.538 billion euros, 61% higher than the same period of 2009.
By March 31st 2010, the company’s financial liquidity was 6.481 billion euros, 489 million more than at the end of 2009.
Antonio Brufau explained to the shareholders the projects and strategy to generate value in Horizon 2014, where the Upstream unit will be the growth driver following the unprecedented exploratory success during the last two years.
Repsol’s strong balance sheet will allow the company, in the expected scenario for 2010-14, to finance its growth and remunerate its shareholders appropriately during the coming years.
The General Shareholders’ Meeting agreed to re-elect for a renewed 4-year period the board members Paulina Beato, Artur Carulla, Javier Echenique, Henri Philippe Reichstul, and the company Pemex Internacional España, S.A.