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By
Europa Press
Translated by
Nicola Mira
Published
Nov 2, 2018
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Inditex to pay out €1.386 billion in dividends to majority shareholder Amancio Ortega

By
Europa Press
Translated by
Nicola Mira
Published
Nov 2, 2018

This year, the founder and majority shareholder of Inditex, Amancio Ortega, will receive dividends for a total of €1.386 billion from the Spanish group, including the sum of €693 million paid out on Friday November 2.


Inditex


Ortega will receive the pay-out via his companies Pontegadea Inversiones and Partler, through which he controls a 59.294% stake in Inditex, equivalent to 1.848 billion shares. Last year, Ortega received dividends worth €1.256 billion.

In 2018, Inditex will be paying out over €2.3 billion in shareholder dividends - €0.75 per share - related to the results of the 2017 financial year, and equivalent to a 10.3% increase over last year.

Last May, the group already paid out an ordinary dividend of €0.375 per share, and on Friday it is adding to this another pay-out of equal amount for complementary ordinary dividends and extraordinary dividends.

Ortega’s daughter Sandra Ortega has a 5.053% interest in the group, and this year she will receive more than €118 million in dividends from Inditex, compared to €107 million last year.

In the first quarter of the 2018-19 financial year (from February 1 to April 30), Inditex generated a net income of €668 million. This was a 2% increase compared to the same period of the previous financial year.

Total sales for the group were worth €5.654 billion, up 2% over the previous year, a new record for the Spanish group. At constant exchange rates, Inditex’s revenue was up 7%, proof according to the group that quarterly growth was “solid” once the exchange rate impact was accounted for.

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