Author: MARCOS MIGUEZ
That is half of what he will receive this year as compensation for his shares in the Galician company
He founder and first shareholder of Inditex, Amancio Ortega, a total of 1,108.5 million euros will come in this Tuesday, May 2, for the first compensation of the year that Inditex will pay to its shareholders, which is half of what it will receive this year in dividends from the Galician company. Namely, the entrepreneur will receive 2.217 million euros in dividends from the company this year, more than the 1.718 million he received last year for this concept.
In total, the company will reward its shareholders with more than 3,730 million euros this year, after increasing the dividend by 29%, to 1.2 euros per share. Specifically, Inditex’s dividend policy consists of a payment ordinary of 60% of profit and additional distribution of extraordinary dividends.
Thus, the board of directors will propose to the general meeting of shareholders a dividend increase of 29% to EUR 1.2 per share, which consists of an ordinary dividend of EUR 0.796 and an extraordinary dividend of EUR 0.404 per share.
The dividend consists of two equal payments: on May 2, 2023, a payment of EUR 0.60 per share, corresponding to an ordinary dividend, and on November 2, 2023, a payment of EUR 0.60 per share (EUR 0.196 ordinary plus EUR 0.404 extraordinary) .
He the founder of Inditex, who will receive more than 1,100 million euros in dividends this Tuesday Through the companies Pontegadea Inversiones and Partler, with which he controls 59.294% of the textile group, which is equivalent to a package of 1.848 million euros, he invests part of the dividend he receives from Inditex in the real estate sector.
In fact, his most recent purchase was the former BBC headquarters in London for around £82 million (around €93 million) in mid-April. So, the founder of Inditex becomes the owner of the said propertylocated at 33 Foley Street, owned by Abrdán.
The purchase comes days after the purchase of a building with 120 luxury rental apartments in the South Dublin harbor area for more than €100 million.
Ortega owns the largest Spanish real estate agency, focused on the purchase and management of large buildings, with a property portfolio composed mainly of non-residential office buildings located in the centers of large cities in Spain, the United Kingdom, the USA and Asia.
Source: La Vozde Galicia
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
