From Telefónica to Iberdrola, the great dividends to close and start the new year strong

The year is heading towards its final stretch and the market moves with that accelerated rhythm typical of December, when investors smell the latest opportunities and the calendar starts running faster than the graphs.

Something similar to a financial blink occurs on the Ibex. A short and precise window opens in which some of the most sought-after payments of the year appear before the clock strikes its final blow. And while that door opens for a moment, the next one is already beginning to crack open on the other side of January, as if the market did not want to leave room for silence between one year and the next.

At this point in the month, December has already left some dividends distributed as in the case of IAG, Bankinter and Fluidrabut there is still room to capture new income.

Telephone

The next Ibex 35 dividend rally will be planted in the middle of December with Telefónica. The operator has set a dividend of 0.15 euros per share with payment scheduled for December 18. To arrive on time it is necessary to be in before December 17, when the option to receive the subscription closes.

The announcement comes in a context in which Telefónica has already announced that it will reduce its dividend to 0.15 euros from 2026compared to the current 0.30 within a new strategic plan aimed at containing debt and reordering operational priorities. The December payment raises the 2025 dividend yield to almost 8%, one of the highest on the Ibex despite the announced cut.

Sabadell Bank

A few days later attention shifts to Banco Sabadell, which has reserved its own movement for the eve of the end of the year. The entity will pay 0.07 euros per share on December 29 and only those who maintain the value before December 23 will be able to capture it.

This new subscription is added to the two distributed during the year. The most recent, of 0.12 euros charged to the 2024 financial year, and the ordinary one distributed in spring. With the three payments combined, Sabadell will have delivered to its shareholders around 0.26 gross euros per share throughout 2025, which is equivalent to an aggregate amount close to 1,300 million euros, taking into account the current capital of the entity.

At market prices, the remuneration offered by Sabadell translates into a dividend yield of over 6%, placing it among the Ibex banks with the highest effective return for the shareholder. Furthermore, this remuneration effort fits within the board’s strategy of reinforcing the attractiveness of the stock market value in a key year for the group’s independence after BBVA’s failed offensive.

Repsol

The jump to 2026 occurs with hardly any transition. January starts with Repsol on the front line. The energy has scheduled a dividend of 0.50 euros per share with estimated payment on January 14according to your own schedule. To receive it, it is necessary to have entered in the previous days, although the exact deadline depends on the administrative closure that the company will communicate soon.

Repsol reaches this stage after an exercise conditioned by oil volatility, a 10% annual drop in Brent crude oil, an international environment that does not let up and forecasts that, according to Goldman Sachs, will put the price of a barrel of Brent at $56. Despite this, firms such as Citi and Barclays maintain a positive recommendation on the company for 2026, highlighting its high cash generation even with moderate crude oil prices and the consistency of the total return to the shareholder.

Redeia

However, the January movement does not stop there. Before the end of the first fortnight, Redeia comes into play with a dividend close to 0.20 euros per share which will be paid on January 7.

This dividend is part of its minimum annual remuneration commitment of 0.80 euros per share during the 2021-2025 plan, which has made the company one of the most constant payers on the Ibex, despite a more than discreet performance during the year, with a stock market drop of 3.8%.

Iberdrola

The electricity company completes the initial sequence of the dividend schedule. The electricity company maintains its flexible dividend program and has set a approximate payment of 0.25 euros gross per share for January 25. Only those who enter before January 12 will be able to receive it.

This amount represents an increase compared to the interim dividend of the previous year and raises the group’s total remuneration to around 1,700 million in this first tranche of the year. Iberdrola comes to the payment supported by solid growth in networks and renewables, with new investments committed in the United States and the United Kingdom, and with recent regulatory reviews that favor greater visibility of income. The market places the electricity company among the most reliable defensive values ​​on the Ibex for 2026.