Iberdrola agreed to convene the company’s 2018 Annual General Meeting (AGM) for 13th of April

Iberdrola agreed to convene the company’s 2018 Annual General Meeting (AGM) for 13th of April

Shareholders will vote on the execution of two new capital increases. This means they may choose between receiving their dividend in cash or as fully paid-up shares through the new ‘Iberdrola Flexible Remuneration’ Programme

Bilbao, Spain, 22-Feb-2018 — /EuropaWire/ — During today’s (20/02/2018) meeting, the Iberdrola Board of Directors agreed to convene the company’s 2018 Annual General Meeting (AGM) for 13th of April, on first call.

Among the 13 points in the agenda are the approval of the annual accounts, management reports, and performance of the Board of Directors chaired by Ignacio Galán, during 2017.

In addition, the General Shareholders’ Meeting will decide on the appointment of Anthony L. Gardner as an independent director. A former Ambassador of the United States of America to the European Union and businessman, Gardner was appointed in 2017 as an independent director to the British subsidiary, ScottishPower, and will replace Braulio Medel as member of the Board.

Furthermore, the General Shareholders’ Meeting will decide on the re-election of independent board member Georgina Kessel, who joined the Iberdrola Board in 2013. Also, the agenda for the next AGM includes the approval of the proposed application of the results of the last financial year and the distribution of dividends.

In this regard, the Board of Directors is proposing the execution of two capital increases with a maximum key market value of 1.31 and 1.14 billion euros respectively, which will enable the implementation of both editions of the new Iberdrola Flexible Remuneration Programme.

Related to this remuneration programme offering Iberdrola shareholders the opportunity to receive their dividend in cash or in fully paid-up company shares, the Meeting will also be asked to approve a reduction in capital through the amortisation of a maximum of 198,374,000 shares of the Company, equivalent to 3.08% of its stock capital, as well as the renewal of the authorisation that allows the Board of Directors to take part in a share buyback programme.

SOURCE: Iberdrola, S.A.

CORPORATE COMMUNICATION DIRECTION
Tel: +34 91 381 54 44 / +34 91 382 59 16
comunicacioncorporativa@iberdrola.com

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