Repsol is going to pay a major dividend using its 30% take of the 4.6 billion euros that it gained in the YPF expropriation settlement and strategic divestments that it made this year. The oil company is paying shareholders a 10% yield to compensate them for losses suffered during the expropriation. This is nearly double the next best dividends on the Ibex.
Sacyr will also benefit from this deal. Pressured by debts, the company announced its intentions to sell 3% of its 9.23% stake in Repsol. To keep Sacyr in the game, Repsol served up a 122 million euro dividend on a silver platter. This way, it can keep as many shareholders as possible amid rumor of Pemex leaving.
