June and July are peak months for dividends on the Spanish stock market. Many of the country’s biggest listed companies pay out to shareholders before the summer break, with payments totalling around €6.5 billion in this period.
June
- Telefónica, chaired by Marc Murtra, paid €0.15 per share on 18 June, around €850 million in total. The telecoms group pays its dividend in two instalments, in June and December.
- Puig, the Catalan fashion and fragrance group, pays €0.5216 per share, around €237 million.
- HBX Group, the travel technology company that listed in 2025, pays its first dividend on 25 June: €0.075 gross per share, about €18.5 million.
July
- Endesa: €1.084 per share, more than €1.1 billion in total.
- Repsol: €0.55 per share on 8 July, around €600 million.
- Amadeus: €1.01 per share in early July.
- Enagás: €0.60 per share, around €157 million.
- Acerinox: €0.31 per share in mid-July.
- Acciona also pays its dividend in this period.
How dividends work
A dividend is the share of a company’s profits paid to its shareholders. To receive it, an investor must own the shares before the ex-dividend date; anyone who buys on or after that date does not receive the payment. On the ex-dividend date, the share price usually falls by roughly the amount of the dividend.
Why companies pay
Mature companies with stable profits, such as utilities, telecoms and energy groups, tend to return a large part of their earnings to shareholders. Investors seeking regular income value these payments, which is why companies such as Endesa, Enagás and Telefónica are popular with income-focused investors.
A word of caution
A high dividend yield is not a guarantee of a good investment. Dividends can be cut if profits fall, and a high yield sometimes reflects a falling share price. Dividends in Spain are also subject to withholding tax.
This article is for information only and is not investment advice. Anyone considering investing should seek independent professional advice.
