Iberdrola Proposes Dividend Hike, Sees 2017 Networks Growth
- Grid unit bolstered by Spanish regulations, U.S contribution
- Spanish utility comments on full-year results in filing
Iberdrola Proposes Dividend Increase of About 11%
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Iberdrola SA plans to boost its 2016 dividend by 11 percent as Spain’s biggest power company forecast increased revenue for this year from its renewable energy and network businesses.
Net income for last year rose 11.7 percent, bolstered by contributions from its U.S. business and new production of renewables in Spain, the Bilbao-based company said in a statement Wednesday. Europe’s second-largest power company predicted “mid single-digit" growth for both earnings and net income in 2017, it said.