When the heat of mid-August gives way to the autumn rains, the dividend season will return in the Spanish stock market , but until then you have to take the opportunity to review which are the most attractive payments to store in the pantry. And not everything resides in the small firms of the Continuum , there are also treasures among the large ones.
Of the list of 600 largest European companies (prepared by Stoxx), six Spanish listed companies are among the 50 most profitable dividends . What’s more, one of them, Enagás , is the sixth most attractive payment on the continental scene. In almost all cases, you have to go, at least, to Christmas to collect them.
The gas company offers returns of over 8.5% for this and coming years. Within the strategic plan that covers until 2026, Enagás has put on the table what its payments will be for this period. It will reach 1.70 euros per share charged to 2021 and will reach 1.74 in 2023, from which year it will remain on that same amount. Next December, the first of the two payments will be made, predictably, against this exercise, as usual, according to analysts.
It will be on December 15 for an amount of 0.68 euros per share – they rent 3.5% at current prices. The second subscription -and complementary- will take place in the month of July.
ACS is the next Spanish in the ranking. The construction company chaired by Florentino Pérez is one of the companies that is still betting on the scrip dividend to pay back its shareholders – although it amortizes it with treasury shares.
The profitability of his payment is going above 7.5% this year, with a dividend expected of 1.71 euros. The next payment of the construction company will not take place until February of next year, for an amount of 0.45 euros, according to the consensus.
ACS is now managing to rally in the stock market from the lows that it marked in mid-July at 20.81. Since then it has risen by 13%, which is the same fall that accumulates in 2021, at the bottom of the Ibex.
And pay attention to Telefónica because, despite having cut its dividend -from 0.4 to 0.3 euros- it is among the 20 most attractive payments of the Stoxx 600, above 7%. The telemarketer traditionally pays twice a year, in December and June, and continues to use the scrip formula , although in its case without redeeming the shares, which implies a dilution for whoever receives the dividend in cash.
And above a 6% return are the expected payments from Repsol, Endesa and Naturgy , enough to sneak into the most attractive fifty dividends. The oil company chaired by Antonio Brufau, with a very marked roadmap, except for big scares in the price of crude oil, will pay 60 cents out of 2021 plus a buyback of 50 million shares. Both things translate into a combined 9.5% return.
Endesa rewards its shareholders in January and July. It will open the year with a payment of 0.70 euros. Naturgy, which has already paid its first interim dividend in 2021, will distribute 0.55 euros per share in November.