Florentino Pérez will continue as president of ACS for at least four more years

  • The first manager of the construction company is already 72 years old
  • The company’s board will also approve a 37% dividend increase

Florentino Pérez will remain as executive director and President of ACS for at least four more years, since the group will ratify its re-election to the position for this period of time at the shareholders’ meeting this Friday, May 10.

The president and first shareholder of the companyThe 72-year-old will thus maintain his role in the construction company that last year appointed Marcelino Fernández Verdes CEO, appointed by Pérez himself as his future successor at the head of the group.

Among the rest of the items on the agenda of the ACS meeting, is the 37% increase in total dividend to be paid against the accounts for 2018, so that it will add an amount of 1.89 euros per share.

The construction and services company will give a ‘green light’ to the distribution next July, through the sistema de ‘scrip dividend’, from a complementary payment of 1.44 euros per title, 53% higher than last year. It will be added to the one traditionally paid on account in November, which was 0.450 euros per title.

ACS will also submit to its board the re-election of a large part of the members of this highest management body, a total of twelve of the 18 that comprise it, to their positions as directors.

Likewise, it will designate KPMG as new auditor to replace Deloitte, firm that has exercised this role for the last 16 years, since 2002.

This is the first meeting that ACS holds after the end of last year the Abertis purchase transaction together with the Italian Atlantia in order to promote a world leader in infrastructure.

In addition, the leadership of the group will present itself to its partners days after the recent announcement of its new strategy and commitment to renewable energies.

Under this new business, the company anticipates launch an electric company called Eleia, which will be in charge of selling the electricity of 100% renewable origin generated by the portfolio of green generation facilities that will also build and operate its new renewable subsidiary Zero-E.

This firm, which is studying going public, plans to have a portfolio of 4,500 megawatts (MW) of power, mainly in Spain, but also abroad, by 2022, which Eleia will market to both individuals and small businesses. and large companies.

1,000 MILLION PROFIT AND HEALED BALANCE SHEET

ACS holds its meeting as long as it is expected to reach the end of fiscal year 2019 and for the first time the level of 1,000 million euros profit.

This profit will be achieved thanks to the “good prospects” of its businesses and the contribution of Abertis in a full year, as announced by the president in the presentation of the 2018 results.

In addition, the group will once again present to shareholders a “solid financial position”, given that it maintains the group’s balance sheet. clean of all debt despite the investment in Abertis.