THE LARGEST EUROPEAN COMPANY IN THE INDUSTRY BY MARKET CAPITALIZATION
THE LEADING EUROPEAN COMPANY AND ONE OF THE TOP TEN SPANISH COMPANIES BY MARKET CAPITALIZATION

IBERDROLA RENOVABLES’ capitalization stood at 12,883 million at the end of 2008 (see chart 2), making it the top European Company in the renewables industry and one of the ten largest Spanish companies of the Ibex 35 by market capitalization.

DIVIDEND PAYMENT

The Company will propose to its shareholders at the General Shareholders’ Meeting the payment of a single dividend of 2.5 euro cents per share, the first in its history as a listed company, equivalent to a pay-out of 27%. In doing so, the Company goes beyond the commitment it took on with investors

IBERDROLA RENOVABLES VS. THE LEADING RENEWABLE ENERGY COMPANIES IN EUROPE. Graphics Gallery 1 | 2
when it went public in 2007: at the time, it announced that it would earmark between 20% and 25% of 2008 earnings for dividends.


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