The company will decide the new date when the state of alarm ends and will study in the call if it pays its shareholders.
Aena is preparing to face the significant impact that the coronavirus pandemic will cause on its accounts. The airport manager has announced today that leaves the distribution of 1,153 million euros in dividends on account of its 2019 result. In a relevant event sent to the National Commission of Markets and Securities (CNMV), the company headed by Maurici Lucena has explained that, given the current situation of restriction of movements to prevent the spread of the pandemic, Its board of directors has decided today to suspend the shareholders’ meeting that it had planned to hold on May 20. The new date, has explained, se will decide once the current alarm state is exceeded in which Spain is concentrated, for which it has a term of the first ten months of the year by virtue of an extension approved by the Executive in view of the exceptional nature of the current situation. “In said call, it will be evaluated, in view of the circumstances and the economic situation, whether or not the dividend provided for in the call for the general shareholders’ meeting held in February 2020 is maintained,” adds his communication.
Aena had planned remunerate its shareholders with 7.58 euros gross per share with a charge to the 2019 result (9.4% higher than the previous year). The main victim of this measure will be the State, holder of 51% of the company’s capital through Enaire, the public air navigation manager. The Treasury had planned to deposit 580 million euros through Aena. The manager obtained a net profit of 1,442 million euros in 2019, which means an increase of 8.6% compared to the previous year. The shareholder remuneration policy included in Aena’s strategic plan approved in 2018 consists of the distribution as a dividend of 80% of the annual individual net profit (pay-out) generated by the company for the years 2018, 2019 and 2020.
Aena’s accounts for this exercise will be seriously disrupted by the sharp drop in air traffic in recent weeks. Mobility restrictions introduced by governments to contain the Covid-19 pandemic have paralyzed airlines, which have virtually stopped flying across Europe. In the first week of March, traffic at Aena’s network airports fell by 14.3% after it had already started to decline in the last days of February.