SHAREHOLDERS REMUNERATION
In 2016, Ferrovial paid a total of EUR544mn to its shareholders (EUR317mn via share buy-back and EUR226mn via scrip dividends), which is more than the amount paid in 2015 (EUR532mn).
|
Ferrovial shareholder remuneration |
Share buy-back |
Ferrovial Flexible Dividend |
2016 |
544 |
317 |
226 |
2015 |
532 |
265 |
267 |
2014 |
510 |
235 |
275 |
DIVIDEND
The Company held its AGM on 4 May 2016. The AGM approved, for the third consecutive year, two share capital increases by means of the issuance of new ordinary shares, with no issue premium, of the same class and series as those currently in circulation, charged to reserves.
These increases form part of the shareholder remuneration system, known as the “Ferrovial Flexible Dividend”, which the company introduced in 2014, and that replace what would have been the traditional complementary dividend payment for 2015 and the 2016 interim dividend.
This programme offers all the company’s shareholders the option, at their choice, of receiving free new shares in the company, or alternatively receive a cash payment by means of selling the free rights that they receive against the shares they already own to the Company (or selling them in the market).
Scrip Dividend Details |
Jun-16 |
Nov-16 |
Guaranteed set price to purchase rights |
0.311 |
0.408 |
Rights per share |
58 |
45 |
% shareholders chose shares as dividend |
58.896% |
56.04% |
% shareholders chose cash as dividend |
41.104% |
43.96% |
Number of new shares issued |
7,435,172 |
9,210,953 |
Number of rights purchased |
300,971,002 |
325,153,323 |
SHARE BUY-BACK AND CANCELLATION
The buy-back programme ended, as agreed at the AGM, on 18 November 2016, after the company had acquired 15,547,735 of its own shares (which therefore did not exceed the planned maximum limit of EUR275mn or 19 million shares).
The share capital was subsequently reduced by EUR3,261,745 by means of the cancellation of 16,308,725 treasury shares held in the Company’s own portfolio, including 760,990 treasury shares held prior to the Board of Directors’ proposal, approved at the General Shareholders Meeting, to reduce the company’s capital.
The share capital comprises 732,548,474 ordinary shares of one single class, each with a par value of twenty euro cents (EUR0.20), (the share capital as of 31 December 2016 was EUR146,509,694.80).