THE LARGEST EUROPEAN COMPANY IN THE INDUSTRY BY MARKET CAPITALIZATION
IBERDROLA RENOVABLES will propose to the shareholders at the General Shareholders’ Meeting a dividend of 2.5 euro cents per share.

The crisis that originated in the real estate market in 2007 gave way, in 2008, to an unprecedented financial crisis. This has spread to other industries and markets, creating a global economic recession. The year was marked by the extreme volatility of the credit, currency and raw materials markets and of stock markets all over the world, which racked up substantial losses. Within this context, the Ibex.35 ended 2008 with drops of almost 40%, in line with those of European stock exchanges.

IBERDROLA RENOVABLES ON THE STOCK MARKET

2008 saw generalized drops in the benchmark indexes of the renewables industry, although

IBERDROLA RENOVABLES VS. THE LEADING RENEWABLE ENERGY COMPANIES IN EUROPE. Graphics Gallery 1 | 2
IBERDROLA RENOVABLES performed better than most. The ERIX and the Renewable S&P lost more than 60%, while the Merrill Lynch dipped to 47.3% (see chart 1).


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