May 2, 2023
Amancio Ortega earns €1.1 billion in Inditex dividends, half of his expected earnings for the year
May 2, 2023
On Tuesday, May 2, the founder and primary stakeholder of Inditex, Amancio Ortega, will receive his first remuneration of the year as part of Inditex's dividend payout to its shareholders. This payment will amount to 1.1 billion euros, which represents half of Ortega's expected dividends for 2023 from the Galician fashion giant.
The entrepreneur will receive 2.217 billion euros in dividends from the company this year, which is higher than the 1.718 billion euros he received in dividends last year.
In total, the company will pay out more than 3.73 billion euros to its shareholders this year, after raising the dividend by 29% to 1.2 euros per share.
Inditex's dividend policy consists of an ordinary payout of 60% of profits and the additional distribution of extraordinary dividends.
The board of directors will propose to shareholders at the general shareholders' meeting an increase in the dividend of 29% to 1.2 euros per share, consisting of an ordinary dividend of 0.796 euros and an extraordinary dividend of 0.404 euros per share.
The dividend will be split into two equal payments: the first one, corresponding to the ordinary dividend of 0.60 euros per share, will be paid on May 2, 2023, while the second one, consisting of an ordinary dividend of 0.196 euros and an extraordinary dividend of 0.404 euros, will be paid on November 2, 2023, for a total dividend of 1.2 euros per share.
The founder of Inditex will receive more than 1.1 billion euros in dividends this Tuesday through his investment companies, Pontegadea Inversiones and Partler, which together own 59.294% of the textile group, equivalent to a stake worth 1.848 billion euros. Ortega is known for investing part of his Inditex dividends in the real estate sector.
In fact, his latest purchase was the former BBC headquarters in London for around 82 million pounds (about 93 million euros) in mid-April.
The founder of Inditex thus became the owner of the property, located at 33 Foley Street and formerly owned by Abrdán.
This acquisition occurred shortly after he bought a 120-unit luxury rental apartment building in Dublin's South Docklands for more than 100 million euros.
Ortega owns the largest Spanish real estate company, focused on purchasing and managing large buildings, with a real estate asset portfolio primarily composed of non-residential office buildings located in the central areas of major cities in Spain, the United Kingdom, the United States, and Asia.
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