News
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05/01/2022Iberdrola raises interim dividend to 0.170 euros gross per share Iberdrola's interim dividend for 2021 will amount to EUR 0.170 gross per share, as announced today by the Spanish National Securities Market Commission (CNMV). Investors opting for the cash dividend will receive the corresponding amount on 1 February. The company once again offers its shareholders three options in this edition of Iberdrola Flexible Remuneration: to receive the interim dividend in cash - the aforementioned 0.170 euros gross per share -; to sell their allocation rights on the market; or to obtain new bonus shares in the group free of charge. This interim dividend for 2021 will be completed with the final dividend that the company expects to pay in July, if approved by the company's General Shareholders' Meeting. Shareholders who opt for the option to receive new shares must hold 60 free allotment rights in order to receive a new share in the company. The three options - collecting the interim dividend in cash, selling the rights in the market or receiving new Iberdrola shares - are combinable, so the shareholder could choose one of the alternatives or combine them according to his or her preferences. The Iberdrola Flexible Remuneration system assigns by default the option to receive new shares, so those shareholders who prefer to receive their remuneration in cash must notify their bank between 10 and 24 January. In order to implement this new edition of the remuneration system, a capital increase with a maximum reference market value of 1,099 million euros will be carried out. Dividend Calendar 7 January 2022 Publication of the announcement of the implementation of the Capital Increase. Last day on which Iberdrola shares are traded with the right to participate in the "Iberdrola Retribución Flexible" system. 10 January 2022 Ex-dividend reference date as from which Iberdrola shares are traded without the right to participate in the "Iberdrola Flexible Remuneration" system. Beginning of the Common Election Period and of the trading period of the free-of-charge allocation rights. 11 January 2022 Reference date for determining the shareholders of the Company that will have the right to participate in the "Iberdrola Flexible Remuneration" system. 24 January 2022 End of the Election Period and of the trading period for the free allotment rights. 1 February 2022 Payment of the Interim Dividend to shareholders who have opted to receive cash through this option. Expected date of registration of the new shares to be issued by virtue of the Capital Increase in the accounting records of "Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U." (IBERCLEAR). (IBERCLEAR). 2 February 2022 Estimated date for the start of trading of the new shares. READ MORE
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04/01/2022Iberdrola extends merger agreement with PNM and files notice of appeal with New Mexico Supreme Court Avangrid, Iberdrola’s subsidiary in the United States, has disclosed to the Securities and Exchange Commission that it has agreed with PNM Resources to extend the longstop date of their merger agreement until 20 April 2023, which may be extended with the consent of both parties under certain circumstances for a further three-month period. The companies have also filed a notice of appeal before the Supreme Court of New Mexico against the order issued by the New Mexico Public Regulation Commission (“NMPRC”) dated 9 December, 2021 rejecting the agreement entered into by Avangrid, PNM, certain of their respective affiliates, and certain intervenors in the approval process with respect to the proposed merger of Avangrid and PNM. Iberdrola, Avangrid and PNM thus begin to defend their interests, as they consider the decision taken by the NMPRC to be "unfair". In this regard, it should be noted that the transaction, which was amicable and recommended by PNM Resources' board of directors, had the backing of stakeholders and had received the approval of various state and federal agencies during the merger approval process, which lasted more than a year. During 2021, the merger received approval from the Public Utility Commission of Texas and five federal agencies, namely: Federal Energy Regulatory Commission (FERC), Hart-Scott-Rodino Clearance (HSR), Committee on Foreign Investment in the United States (CFIUS), Federal Communications Commission (FCC) and Nuclear Regulatory Commission (NRC), pending only the NMPRC approval. The stipulated agreement would have provided more than $300 million in benefits to New Mexico customers and communities, while implementing safeguards to ensure continued local control of utility operations and reliable service to customers. Additional community supporters voiced their opinions, including the New Mexico Attorney General, the International Brotherhood of Electrical Workers Local 611, environmental advocates and organizations representing tribal interests. In total, 23 of the 24 intervening parties supported or did not oppose the agreement. The affected companies will have 30 days to file a Statement of Issues outlining the argument for appeal against the NMPRC's decision. There is no statutory time frame for the New Mexico Supreme Court to act on the appeal. Iberdrola, a leading green energy company in the USA The Spanish company, which in 17 years has positioned itself as one of the top 3 renewable energy companies in the United States, continues to see tremendous growth opportunities in the country and is committed to supporting US efforts to expand its renewable energy infrastructure, an essential element of the energy transition. At the end of December 2021, Iberdrola, through its subsidiary Avangrid, was awarded a PPA for its Commonwealth Wind farm in Massachusetts. The 1,232-megawatt project, New England's largest offshore wind project to date, will create the equivalent of 11,000 full-time jobs over the life of the project and generate enough energy to power 750,000 homes. At the same time, construction has begun on the first commercial-scale offshore wind farm in the United States (Vineyard Wind One), which will be operational in 2024. The 800 megawatt (MW) project, located about 15 miles south off the coast of Martha's Vineyard, will generate enough power to meet the demand of more than 400,000 homes and will prevent the emission of more than 1.6 million tonnes of carbon dioxide per year, the equivalent of removing 325,000 vehicles from the roads. Through its subsidiary Avangrid, it also owns the Kitty Hawk development area (2,500 MW) in North Carolina, has already started the BOEM permitting process for the Kitty Hawk North project (800 MW), the first project to be developed off the coast of North Carolina, and manages other wind farms at an earlier stage of development. Such is its capacity for growth that the company has a $30 billion investment plan for 2020-2025 in transmission, distribution networks and renewables, through which it will practically double renewable capacity by the end of the period. These investments are aimed at increasing its presence in the offshore wind and solar photovoltaic industries, as well as strengthening its leadership in onshore wind. READ MORE
