Repsol considers dividend hike after oil price rise – Expansion

MADRID, Oct 20 (Reuters) – Spanish oil company Repsol is considering raising its future dividend after recent oil price increases, Expansion newspaper said on Wednesday, citing unidentified financial sources.

The company is also considering using the extra cash from oil revenues to speed up share buy-backs, the newspaper said.

The company had said in the past it planned to use possible extra oil revenues into investment in low-carbon energy and shareholders retribution, the newspaper said.

The company had said it planned a 25% dividend increase by 2025 as well as share buy-backs, considering a scenario with an oil price between $40 and $50 per barrel. Brent crude is currently trading above $80 a barrel on the spot market.

A spokesperson for Repsol declined to comment. (Reporting by Inti Landauro, editing by Louise Heavens)