The Annual General Meeting of Shareholders of Inditex, held at the headquarters of the Group in Arteixo, has approved the annual accounts for FY2006 and the distribution of a dividend of €0.84 per share.
The aggregate dividend to be distributed among shareholders amounts to €524 million, a 25% increase over the previous year and 75% higher than the one paid in 2005. This evolution is in line with the attractive and predictable remuneration policy for shareholders, which is one of the priorities of the Group as regards the use of cash flow.
In his presentation to the AGM, Mr Pablo Isla, First Deputy Chairman and CEO, pointed out the good performance of all economic and financial parameters of the Group, especially underscoring that the job creation pace has been maintained – up 19% in 2006 to total 69,240 employees – as well as the international expansion rhythm of all commercial formats.
Mr Isla also referred to the new initiatives implemented in the field of Corporate Social Responsibility, and namely to the steps taken to strengthen the production line through the creation of clusters of suppliers. Likewise, he presented the shareholders with the contents of the Environmental Strategic Plan of the Inditex Group for the 2007-2010 period.
As for the future prospects, the CEO underscored that a strong organic growth is expected. The European continent will remain the main expansion area, where all the formats of the Group are expected to thrive. Europe is regarded as a domestic market and Inditex has achieved therein a strong profitability growth potential.
Meanwhile, Asia, where selling area has increased by 73% in 2006, is ranked second in the expansion plans of the company. Inditex expects to increase its expansion in Japan and to focus its growth in China in the Shanghai, Beijing and Hong Kong areas.
Likewise, Mr Isla pointed out the significant investment policy of the Inditex Group in the years 2006 and 2007 in the logistics field with the setting in train of three new logistics platforms in Meco (Madrid), Palafolls (Barcelona) and León and the extension of the existing ones in Arteixo (A Coruña), Zaragoza, Elche (Alicante), Ferrol (A Coruña) and Sallent (Barcelona).
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