Acciona plans to approve this Thursday at the general shareholders’ meeting cut the dividend of 3.85 euros per share in half which he planned to distribute this year out of the 2019 results for “prudence and social responsibility” in the face of the crisis.

The group that presides José Manuel Entrecanales Thus, it will distribute 1,925 euros per share, a payment to which it will allocate 105.59 million euros, compared to the 211 million initially planned.

The construction and renewable energy company has considered “convenient” to allocate the remaining 106 million to increase its voluntary reserves and equip yourself with more liquidity to face the crisis.

Acciona, which has the Entrecanales family as controlling shareholder, considers that, in addition, it is a «Gesture necessary from an ethical and social responsibility point of view», Europa Press reports.

Among the other items on the agenda of the meeting is the re-election of two of its independent directors, Christiana Figueres and Jerónimo Gerard.

Likewise, the council will request authorization for, if it deems it appropriate, increase capital or issue debt securities, in this case, for a maximum amount of 3,000 million euros.

Acciona will also raise the new remuneration policy of its directors for the next three years (2021-2023) and the new 2020-2029 long-term incentive plan linked to the creation of value aimed at executive directors.

In addition, it will propose to modify the Settlement system for the Share Delivery Plan and ‘Performance Shares’ 2014, so that its beneficiaries can liquidate the incentive, whether annual or multi-year, through the delivery of other company assets, such as shares in the mutual funds from Bestinver, listed shares of other companies where Acciona holds a significant stake or any other asset that the board of directors may consider suitable, as well as in cash.

Acciona celebrates its meetingwhat will be telematics, coinciding with the reinforcement that, despite the crisis, it is carrying out in its bet on energy renewable, considering that the sector, like that of infrastructure, is emerging as a lever for recovery.

The group, which has just achieved the ‘Investment grade’, announced at the end of February an investment of 4,000 million in the coming years to build new clean energy generation facilities totaling five gigawatts (GW).

These assets will be added to the portfolio of 10,240 megawatts (MW) that it already has installed and in operation, 44% abroad, which already places it as one of the main global players in the sector.

In addition, it recently increased its controlling interest in the subsidiary that channels wind parts abroad.

Regarding the impact of the crisis, on the occasion of the presentation of the results of the first quarter, Acciona limited its effect to 15% of its Ebitda this year.

Likewise, the company, which has additional financing of 900 million in recent months, claims to be prepared for any scenario and in a “strong position” to “seize the opportunities” that arise in its construction and renewable businesses.