DIVIDEND POLICY

The Group has always been committed to its Stakeholders, including Shareholders, who place their trust in management.

In this framework, the Group has implemented a Shareholders’ remuneration policy that is fair and sustainable in the mid-long term.  Its objective is to ensure a balance between the Group’s net worth strengthening on one side and the Shareholders’ expectations to earn an attractive return on their invested capital on the other.

For this purpose, the current Group policy is to distribute an annual dividend equal to a third of the Net Consolidated Income.

DIVIDEND PAYMENT

No dividends to be paid in 2020