brytfmonline

Complete News World

Zara's founder will take home nearly $1.5 billion in profits this week

Zara's founder will take home nearly $1.5 billion in profits this week

By the end of the year, Amancio Ortega will receive a total of 2,845 million euros. The owner of Zara owns more than 59% of the capital of the textile group.

The Zara founder is set to receive a €1.423 million dividend from Inditex Group this week. Accounts from “Economic” Referring to the first payment made by the Textiles Group to shareholders in relation to last year’s results.

The global clothing retail leader ended 2023 with total profits of €5,381 million, the highest ever achieved by the company. In this way, the company that owns Zara, led by Marta Ortega (the founder's daughter), saw an increase in profits of 30.3%, while sales reached 35.947 million euros and about nine billion in sales.

However, this is not the first achievement of the retailer leader. In 2023, Marta Ortega has achieved something her father never did: her earnings have exceeded four billion dollars. In 2023, according to the financial report, it surpassed itself again.

With results never seen before, Inditex announced a dividend of 4.8 billion euros. One He will spend by 60% compared to the results achieved in 2023, and shareholders will still receive extraordinary dividends.

On Thursday, May 2, Inditex will pay €0.77 per address, and will pay the same amount on November 4, in the event of an extraordinary dividend. So, in total, the owner of Zara would pay €1.54 per share. Now Amancio Ortega is the owner of 1.848 million shares in the company he founded, equivalent to 59.294% of the capital.

See also  McDonald's leaves Russia after 32 years | The war in Ukraine

At the end of the year, Ortega will receive another 1.423 million euros to replace the 2.845 million euros he owns. This represents an increase of €628 million compared to the amount received last year. Since he is also the director of the company, he was able to get it In addition to 100 thousand euros for the 2023 results.

Sandra Ortega, the daughter and second largest shareholder of the group (5.1% of shares – 157.5 million shares), is preparing to receive 243 million euros. Of this total amount, 121 million will arrive this Thursday.

Politician and President of the People's Party, Alberto Nunez Viejo, owns four thousand shares of Inditex shares and will also receive dividends, expected to receive 6,160 euros by the end of the year.

Marta Ortega, non-executive chairman of Inditex, is not expected to receive the award will spend, But a remuneration report submitted to the National Securities Market Commission (CNVM) shows he received a salary of €1 million for his second year at the helm of the group. Between 2022 and 2023, Ortega received 834 thousand euros.

Inditex CEO, Oscar García Maceras, earned 10.32 million euros last year, 23.3% more than in 2022. It is known that 2.79 million euros corresponds to the total profit from the shares.