The Chairman outlined the decisive progress made on the Horizon 2014 strategic plan
Repsol Shareholders’ meeting approves the 2010 earnings and a 23.5% dividend increase
Press Release15/04/2011 07:00
The Shareholders’ Meeting approved the payment of a dividend from 2010 earnings of 1.05 euros/share, a rise of 23.53% from 2009.
Repsol’s net income for 2010 was 4.693 billion euros compared with 1.559 billion euros in the previous year due to the good performance of all the business units and the capital increase of the Brazilian subsidiary.
In 2010 Repsol made significant advances in achieving the goals laid out in the Horizon 2014 strategic plan.
The creation of Repsol Sinopec Brazil was a key milestone in the development of the company’s exploration activity and validated the success of the company’s strategy in the last few years.
Repsol has advanced significantly in its partial divestment of its stake in YPF. Repsol currently holds 68% of YPF after selling shares on the stock exchange, to investment funds as well as the public offering carried out in March 2010.
The start-up of the expanded refineries in Cartagena and Bilbao in the latter part of the year will mark the completion of the Downstream unit’s objectives in the Horizon 2014 strategic plan.
Antonio Brufau: "In 2011 we aim to build on the successful execution of our strategic plan, continuing to meet our growth and value-creation objectives."