Spain's Repsol hikes payout targets, reduces investments

Core Viewpoint - Repsol has increased its payout targets to shareholders, committing to distribute between 30% and 40% of its cash flow through dividends and buybacks by 2028, while simultaneously reducing its investment plans [1]. Group 1: Payout Strategy - The company aims to return between 30% and 40% of cash flow to shareholders, a rise from the previous target of 25%-35% [1]. - This strategic shift aligns with Repsol's focus on enhancing shareholder returns over recent years [1]. Group 2: Investment Plans - Repsol plans to decrease its net investments to a range of 7.5 to 9 billion euros through 2028, significantly lower than the previous estimate of 16 to 19 billion euros [1]. - The reduction in investments follows years of substantial capital expenditures [1].