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Last Updated: June 7, 2018
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MADRID (Bloomberg) -- Repsol SA, Spain’s largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50/bbl.

The scrip dividend -- a payout to shareholders in stock -- will climb to 1 euro in 2020 from a planned 90 euro cents this year, according to a strategy update from the company, which said buybacks are planned to avoid dilution. The move underlines the oil industry’s increasing confidence that crude prices will hold up after emerging from a three-year slump.

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