MADRID (dpa-AFX) - Repsol S.A. (REPYY.PK), a Spanish energy and petrochemical company, on Thursday reported that its third-quarter net income was 166 million euros, a decline of 88 percent from last year, and down 75 percent sequentially.
In the nine months, net income fell 36 percent from the prior year to 1.792 billion euros. Adjusted profit declined 30 percent to 2.684 billion euros, in a context of low crude oil and gas prices and lower refining margins.
The company increased the volume of electricity sold in Spain by 42 percent compared to the previous year, reaching 4,616 GWh.
Further, Repsol announced the distribution of a cash dividend of 0.475 euros gross per share in January 2025. This year, the company has paid 0.9 euros gross per share in cash, representing an increase of approximately 30 percent compared to 2023.
In addition, the company has a share buyback program in place to achieve its commitment to redeem 60 million shares this year.
Repsol said it expects to achieve a range of distribution to shareholders of between 25 percent and 35 percent of operating cash flow for the period of the Strategic Plan 2024-2027.
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