CORPORATE | 03/05/2025
MAPFRE increases its dividend to record levels, further strengthening its consistent and growing commitment to shareholders
MAPFRE concluded 2024 with record-breaking results in premiums and earnings, enabling the company to increase its dividend for the third consecutive year, raising it to a historic high of 16 cents per share. This move underscores the company’s commitment to its nearly 200,000 shareholders, aiming to deliver consistent and growing value, as explained by MAPFRE executives during a meeting with nearly 100 minority shareholders in Madrid this Tuesday.
“It has been a historic year for MAPFRE, confirming the very positive trend we’ve observed in recent years. We have a solid and profitable business, with leading positions in many of the markets where we operate. As a result, we’ve decided to further strengthen our commitment to delivering value to our shareholders,” said Felipe Navarro, Corporate Director of Investor Relations, Capital Markets, and M&A at MAPFRE.
The gross dividend will be set at €0.16 per share, following the approval of a supplementary dividend payment of €0.095, in addition to the €0.065 already paid in late 2024. This results in a total dividend of €493 million, representing a payout ratio of 54.7%.
The Board of Directors’ proposal to increase the dividend will be voted on at the General Shareholders’ Meeting on March 14.
Felipe Navarro, Corporate Director of Investor Relations, Capital Markets, and M&A at MAPFRE, during the event.
Share dividend
This meeting will also feature a new initiative—an additional payment of €0.0015 gross per share, should the participation level reach 81%. If this quorum is met, all shareholders will be eligible for the payment. This initiative aims to encourage greater shareholder involvement in MAPFRE’s decisions and corporate affairs.
“The company wants you to participate; we want to hear from you. There’s no better way to demonstrate this commitment than by effectively rewarding participation,” explained Jaime Álvarez de las Asturias, Legal Advisor for Securities Markets and Corporate Governance at MAPFRE, during the meeting with minority shareholders.
In this context, MAPFRE will also propose changes to its corporate bylaws and regulations at the General Shareholders’ Meeting to foster greater shareholder engagement.
A yield per share of 6.9%
At the shareholder meeting, executives highlighted that the proposed dividend yields 6.9% based on MAPFRE’s average share price in 2024, positioning the company as one of the most profitable on the IBEX 35.
The stock has also performed exceptionally well, appreciating 25.9% in 2024, followed by an 11% increase in the first two months of this year. “MAPFRE’s stock has had an outstanding performance in both 2024 and 2025. This is a reflection of the market’s confidence in our value,” stated Leandra Clark, MAPFRE’s Director of Investor Relations.
The ROE, which measures profitability on equity, reached 10.9% last year (12% excluding the partial impairment of Verti Germany’s goodwill), showing growth across all of MAPFRE’s international regions. The Non-Life combined ratio also improved by 2.8 percentage points, reaching 94.4%.