MADRID, 21 Jun. (EUROPA PRESS) -

Repsol has reached the maximum number of shares to be acquired under the share repurchase program after purchasing 35 million treasury shares representing approximately 2.64% of the share capital prior to the execution of the planned capital reduction, the company reported. to the National Securities Market Commission (CNMV).

Once the program has ended, Repsol has announced the expected redemption of 50 million shares, representing 3.77% of the share capital, which includes the redemption of 35 million treasury shares acquired under the buyback program and 15 million of treasury shares.

After amortization, the share capital is fixed at 1,277,396,053 euros, corresponding to 1,277,396,053 shares with a par value of one euro each.

In this way, the oil company led by Josu Jon Imaz is advancing in its shareholder remuneration plan, which is complemented, in addition to the dividend payment, with these share repurchase programs.

In 2022, Repsol paid its shareholders a cash dividend of 0.63 euros per share and a reduction in share capital of 200 million shares.

In 2023, the cash dividend will increase by 11%, up to 0.70 euros per share, with which the energy company is one year ahead of the target of remuneration for its shareholders in its 2025 strategic plan.

Additionally, this remuneration will be complemented with additional share repurchases throughout the year, as announced by Imaz last April on the occasion of the presentation of the company's first quarter results.

In total, in 2023, Repsol will allocate 2,400 million euros to remuneration and repurchase and amortization of shares, which represents at least 30% of the cash flow from operations.