IAG Shareholders Await Dividend Decision

The shareholders’ meeting of International Airlines Group (IAG), which includes Iberia, British Airways, Vueling, Aer Lingus, and Level, will convene in Madrid this Wednesday to examine the proposal for applying the 2023 results. It remains unclear whether the company will restart its dividend payments.

As part of the meeting, the Board of Directors will review the 2023 financial reports, which show a significant increase in revenue, with IAG earning 2,655 million euros, a significant six-fold increase from the 431 million euros earned in 2022.

The Board will likely also approve the authorization for the company to increase its share capital and issue securities. The resolution will exclude the preemptive subscription right in relation to these capital and debt movements, up to a maximum of 10%, without any restrictions, and an additional 10%, which must be allocated to a specific acquisition or capital investment.

Chief Executive Officer Luis Gallego stressed the company’s commitment to creating sustained shareholder value, although he did not provide a timeline for reinstating dividend payments.

In the first quarter of this year, IAG reported a loss of 4 million euros, a significant improvement over the negative 87 million euros reported in the same period last year, effectively putting the company back in the black. The first quarter is typically the weakest for IAG, making the early progress a positive sign.

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