Enagás expects to increase its dividend by 5% per year until 2020 and "at least" 1% per year from that year until 2023, according to the update of its strategic plan 2019-2023 that The group has sent to the CNMV.
According to the company, the financial discipline and the strong deleveraging since 2016 will allow it to "pay off the entire debt sooner than expected" in an environment of growing demand. With this premise, the company sets the "sustainability of the dividend from 2021 as a priority". The objective is "at least" to increase by 1% per year between 2020 and 2023.
The company expects to raise the dividend in 2018 to 1.6 euros per share in 2019 and increase it to 1.74 euros per share in 2023. "Shareholder remuneration continues to be our strategic priority," says the company. presentation.
According to the group's projections, which have not been considered any change in the regulatory framework from 2021 onwards, Enagás estimated an available cash flow of about 2,962 million euros in the period, of which about 1,984 million euros were They will allocate to committed dividends.
In addition, it expects to obtain a discretionary cash flow close to 1,413 million euros, with committed investments amounting to 983 million euros.
Enagás assures in its plan that the cash generation expected in the period is reinforced by its presence in the North American Tallgrass Energy, which will allow it to fulfill its dividend commitment, invest in new markets and new businesses and maintain a "solid structure". of balance ". The company presided by Antonio Llardén announced on Monday the purchase by 525 million of 11% in the group of gas pipelines through a Blackstone holding company and the Singapore fund. Commits an additional investment of 340 million