Thursday, January 20, 2022

Inditex owner to receive £1.1bn in dividends

Inditex Zara

Following the release of Inditex‘s full year results earlier this morning, it has been revealed the company‘s owner will receive a £1.1 billion payout.

Amancio Ortega, Europe‘s wealthiest person and the largest shareholder in Inditex, has now earned more than £5 billion in dividends from the Spanish fashion group since 2010.

Inditex, which owns fashion brands such as Zara, Massimo Dutti and Pull & Bear, has raised its dividend by 13.3 per cent year-on-year. This means shareholders will receive a bumper payout following the retailer’s record results.

READ MORE: Zara parent company posts sales & profit growth

The 80-year-old billionaire, who is worth an estimated £58 billion behind only Bill Gates, Warren Buffet and Jeff Bezos, owns almost 60 per cent of Inditex, the world‘s largest fashion group.

Speaking about this morning’s results, Inditex chief executive Pablo Isla said: “These are a positive set of results against a backdrop of strong prior-year performance.

“This is a direct result of the commitment, spirit and ambition of all the professionals comprising the group, their dedication to the company, passion for fashion and focus on sustainability.”

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