Repsol raises dividend after adjusted net profit falls on lower oil, gas prices
MADRID, Oct 26 (Reuters) - Spanish energy group Repsol said on Thursday it would raise the dividend to be paid in January after its adjusted net profit fell in the third quarter from the same period a year ago because of lower oil and gas prices.
The company raised its dividend to 0.40 euros ($0.42) per share, 14% more than the one paid in January 2023, in a bid to keep an "attractive return" while remaining "disciplined".
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Including share buybacks, Repsol will pay its shareholders a total of 2.4 billion euros, it said.
Repsol's adjusted net profit fell 27% in the third quarter to 1.1 billion euros from 1.51 billion euros in the same period a year ago on lower oil and gas prices, the company said.
The adjusted net profit came in slightly above the company-provided average forecast of 1.09 billion euros.
Repsol's Chief Executive Josu Jon Imaz said the company's diversification into renewable energies and sustainable fuels would allow it to maintain profitability despite oil and gas price swings.
($1 = 0.9489 euros) (Reporting by Inti Landauro; Editing by David Latona)