Inditex to pay out €1.386 billion in dividends to majority shareholder Amancio Ortega

This year, the founder and majority shareholder of Inditex, Amancio Ortega, will receive dividends for a total of €1.386 billion from the Spanish group, including the sum of €693 million paid out on Friday November 2.

Ortega will receive the pay-out via his companies Pontegadea Inversiones and Partler, through which he controls a 59.294% stake in Inditex, equivalent to 1.848 billion shares. Last year, Ortega received dividends worth €1.256 billion.

In 2018, Inditex will be paying out over €2.3 billion in shareholder dividends - €0.75 per share - related to the results of the 2017 financial year, and equivalent to a 10.3% increase over last year.

Last May, the group already paid out an ordinary dividend of €0.375 per share, and on Friday it is adding to this another pay-out of equal amount for complementary ordinary dividends and extraordinary dividends.

Ortega’s daughter Sandra Ortega has a 5.053% interest in the group, and this year she will receive more than €118 million in dividends from Inditex, compared to €107 million last year.

In the first quarter of the 2018-19 financial year (from February 1 to April 30), Inditex generated a net income of €668 million. This was a 2% increase compared to the same period of the previous financial year.

Total sales for the group were worth €5.654 billion, up 2% over the previous year, a new record for the Spanish group. At constant exchange rates, Inditex’s revenue was up 7%, proof according to the group that quarterly growth was “solid” once the exchange rate impact was accounted for.