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Ferrovial calls for 'investment in infrastructure', dividend declared

30-Jun-2010 9:50 AM

Ferrovial Chairman, Rafael del Pino, highlighted (29-Jun-2010) the need at the company's AGM to maintain "productive investment" in order to lay the foundations for "growth in the future" and called for sustained investment in infrastructure as it "has proven its ability to generate wealth, dynamise the economy and create jobs". The chairman stated Ferrovial "will be stronger after the crisis", adding he considers the company's goal is to not only withstand the current situation but also to "emerge stronger, as a diversified, internationalised group of the right size and, above all, one that is more profitable for shareholders". Mr del Pino said the company is seeking to "reduce debt and rotate mature assets through selective divestments, while also improving operating efficiency and generating cash flow". Mr del Pino confirmed that, in the last few months, Ferrovial has divested Cintra Aparcamientos, London Gatwick Airport, APP, Tube Lines and 60% of Cintra Chile, raising close to EUR3 billion from divestments in 2009 and 2010. The shareholders, meanwhile, approved the payment of a EUR0.30/share supplementary dividend on 01-Jul-2010. [more]