Spanish companies Enagas (ES:ENG) and Mapfre (ES:MAP) are currently offering higher dividend yields to investors. These are also among the top 10 high-dividend-paying companies in Spain.
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Here, we have used TipRanks’ Best Spain Dividend Stocks to pick these companies. With the help of this tool, users choose from the top dividend-paying companies in any particular market and compare them on many key factors, like analyst recommendations, price targets, dividend yield, and more.
Let’s have a look at some details.
Enagás S.A.
Enagas is a Spanish utility company that owns the country’s national gas grid. The company is involved in the business activities of natural gas transmission and maintaining the infrastructure.
The company has a deep history of stable dividends, with a growth rate of 4.4% p.a. over the last ten years. In its 2022 annual report, the company announced an interim dividend of €0.68 per share. The company’s total dividend for the year is €1.72 per share. According to the company’s future projections, the dividend could reach €1.74 per share in 2023.
Even though analysts feel the dividends are not expected to grow more, the current dividend yield of 7.82% still makes an attractive case for income-seeking investors.
Enagas Share Price Forecast
The company’s stock started this year on a positive note with a gain of 11.25% YTD.
According to TipRanks, ENG stock has a Moderate Sell rating based on four Sell, one Hold, and one Buy recommendations.
The average price target is €15.53, which is 12.51% lower than the current price level.
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Mapfre, SA
Based in Spain, Mapfre is a leading insurance company. It offers life, health, property, accident, and casualty insurance services in around 80 countries worldwide.
In February, the company reported a 16% fall in its profits for 2022, due to a rise in natural disasters and rising inflation costs. This was despite posting a 1.8% increase in its revenues of €29.51 billion as compared to 2021.
Coming to dividends, the company has a dividend yield of 6.37%. For 2022, the company announced a final gross dividend of €0.085 per share, which is payable in May 2023. This brought the total dividends to €0.145 per share for the year, which is similar to the dividends at pre-pandemic levels. Moreover, the company was able to increase its payout to 69.5% in 2022, up from its target of 50%.
Mapfre Stock Forecast
MAP stock has a Moderate Sell rating based on one Hold and one Sell recommendation. It has an average price target of €1.82, which is almost 2% lower than the current level.
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Conclusion
According to analysts, the share prices of ENG and MAP have no upside potential. However, investors looking for some extra passive income could consider these for their portfolios.