Saeta Yield approves its second quarterly dividend for 2017 for the sum of 0.189 euros per share
The Saeta Yield Board of Directors, chaired by José Luis Martínez Dalmau, today agreed on the payment of a dividend charged to the share premium for the sum of 0.189 euros per share. So far this year, the Company has approved a dividend for the sum of 0.57 euros per share, 4.8% higher than the same dividend for 2016. This dividend, which on an annualised basis would be at an implicit figure of around 0.76 euros per share, is 8% higher than the initial dividend expected by Saeta Yield on its flotation in February 2015. The purchase of the wind farms Carapé I and II in Uruguay and the refinancing of the Manchasol 2 solar thermal plant last May has made this growth possible.
This payment is the second quarterly dividend of 2017 and will be effective from 30 August 2017. The ex-date will be 28 August and subsequently the last trading day will be 25 August.
The Board of Directors’ decision reinforces the Company’s profitable and sustainable growth and remuneration strategy, expressed by the CEO of Saeta Yield during the General Shareholders’ Meeting on 21 June. During this Meeting, the CEO stated that “Saeta Yield is currently a distinctive investment proposal in the Spanish and European market, which is based on its ability to generate sustainable returns”.
In this regard, he underlined that “Saeta Yield is developing a strong and healthy corporate plan. Since the start of our journey, we have proposed maximising the total return for our shareholders based on two very clear strategic pillars”.
On the one hand “excellent management of our asset portfolio, able to generate stable and predictable cash flows, providing a significant dividend yield”, he stated.
“Secondly, we are able to grow this asset base profitably based on our preferential purchase arrangement with ACS and Bow Power, as well as looking for other business opportunities with third parties”, he said.
Saeta Yield has clear growth opportunities, as well as the necessary funds to achieve them, since it has the liquidity and sources of funding to invest nearly €250 million.