Glossary

P

  • PER (Price to Earnings Ratio)
    The market value of a company's shares (stock market capitalisation) divided by the net attributable profit. Reflects the value of the net attributable profit as a function of the stock market valuation (capitalisation).

    Spanish: PER (Price to Earnings Ratio)
  • Par value of a share
    Result of dividing the share capital by the number of shares.
    Spanish: Valor nominal de la acción
  • Paris Agreement
    Global agreement on climate change adopted in December 2015 at the Paris COP21 by the 195 state parties to the United Nations Framework Convention on Climate Change.The Paris Agreement entered into force on 4 November 2016 and lays down a bridge between today's policies and the climate neutrality that should exist by the end of the century.

    The agreement has a long-term objective to "strengthen the global response to the threat of climate change, in the context of sustainable development and efforts to eradicate poverty", for which purpose it sets out three specific actions:

    a) Holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels,

    b) Increasing the ability to adapt to the adverse impacts of climate change and foster climate resilience and low greenhouse gas emissions development, in a manner that does not threaten food production;

    c) Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.

    Spanish: Acuerdo de París
  • Pay-out
    Percentage of profits used to remunerate the shareholders.
    Spanish: 'Pay-out'
  • Periodic financial information
    Financial documents prepared on a quarterly, semi-annual and annual basis pursuant to the provisions of Royal Decree 1362/2007, which are publicised by delivery to the CNMV and which are therefore available to shareholders and investors. See "Annual accounts".
    Spanish: Información financiera periódica
  • Pledge of shares
    Delivery of shares as security for a loan, a credit facility or for compliance with a principal obligation generally.
    Spanish: Pignoración de acciones
  • Pre-emptive rights
    The right of all shareholders to acquire, on a preferential basis, newly-issued shares in the event of an increase in capital or the conversion into shares of an issue of convertible debentures.

    Spanish: Derecho de suscripción preferente
  • Preferred share
    Share carrying some financial privilege in addition to that carried by ordinary shares (normally, a higher dividend by means of a special participation in profits). They are rare in the Spanish market, and IBERDROLA currently has no shares of this type.
    Spanish: Acción privilegiada
  • Principle of equal treatment of shareholders
    Principle adopted by applicable law to guarantee equal treatment in the acknowledgement and exercise of their rights by all shareholders who are in the same position or have the same interest.
    Spanish: Principio de paridad de trato a los accionistas
  • Private (paracorporate) shareholders' agreement
    Agreement executed by and among some or all of the shareholders or members of a commercial company in order to supplement, specify or modify their internal relationships and the legal and by-law relationships governing the company. They are legal devices protected under article 1255 of the Civil Code, which embodies the principle of free will of the parties in contractual matters.
    Spanish: Pacto parasocial
  • Profit and loss statement
    Financial statement reflecting a summary of all income and expenditure during a financial year.
    Spanish: Cuenta de pérdidas y ganancias
  • Proprietary Director
    External director who either holds a shareholding interest equal to or greater than that legally regarded as significant and who has been appointed owing to their status as a shareholder, even if their shareholding interest does not reach said amount, or who represents shareholders among those described above.
    Spanish: Consejero dominical
  • Proxy advisor
    Entity that offers recommendations to institutional investors regarding the exercise of voting rights at the listed companies in which they invest.

    Spanish: Agencia de recomendación de voto (Proxy Advisor)
  • Public takeover bid
    Financial transaction whereby an individual or legal entity makes a public offering to the shareholders of a listed company for the acquisition of its shares in order to obtain a significant interest in the capital or to increase their interest by a specified percentage. A public takeover bid can always be made on a voluntary basis, but it must be targeted to all of the shareholders in the case of a takeover bid for a listed company in Spain.
    Spanish: Oferta pública de adquisición (opa)
  • Purpose and Values of the Iberdrola group
    Ideological and axiological basis that sustains IBERDROLA?s corporate enterprise, guides its strategy and conduct, governs its day-to-day activities and guides the ethical behaviour of the entire human team participating in the realisation thereof.


    Spanish: Propósito y Valores del grupo Iberdrola
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