The company will pay an extraordinary payment if a certain quorum is reached, which will be determined in the coming days, for the law of June 17 in Bilbao
Iberdrola has proposed an engagement dividend for the shareholders’ meeting to reward attendance at the event, which will take place on June 17 – on its second visit – in Bilbao. This is the only Ibex 35 company to reward its shareholders for participating in the company’s most important event.
The company’s board of directors has proposed that if the meeting on June 17 approves this new incentive and a certain quorum for incorporation is reached, Iberdrola will pay an additional amount to all its shareholders with the right to participate in the act. Both the percentage of the quorum and the amount of this participation dividend will be published in the coming days together with the convocation notice.
The board of directors also approved the agenda for the next meeting, which includes 20 proposed resolutions, including amendments to the articles of association, the approval of the annual accounts, the statement of non-financial information, the application of the 2021 result and two new editions of the optional dividend system “Iberdrola Retribución Flexible” and the re-election of several independent directors.
In particular, he proposed to reformulate the preamble and Article 7 of the Articles of Association in order to consolidate Iberdrola’s commitment to its purpose and values and to the generation of the social dividend. For example, the company is renewing its compliance with the most demanding standards in environmental protection and climate action, social engagement and corporate governance (known in English as the ESG criteria).
This new initiative, in line with the company’s sustainable development strategy and social dividend, consolidates Iberdrola at the forefront of international best practices in governance and sustainability.
On the other hand, the re-election of Mr. Anthony L. Gardner, Ms. María Ángeles Alcalá Díaz and Ms. Isabel García Tejerina as independent directors is proposed to the General Meeting of Shareholders. In this way, the company reinforces the high degree of independence of the members of its Board of Directors, as well as its diversity in terms of gender, age, origin and experience. It is also proposed to keep the number of members at 14.
At today’s meeting, the Board of Directors also approved the implementation of a new share buy-back program to reduce the share capital, subject to prior approval by the General Meeting of Shareholders. The goal is to fulfill the group’s commitment to maintain a stable number of outstanding shares, on which earnings per share are calculated, at approximately 6,240 million.
To this end, Iberdrola will repurchase up to 197,563,000 of its own shares, representing 3.069% of the company’s current share capital, including the shares acquired through the buyback program.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
