MADRID -(Dow Jones)- Spanish oil company Repsol YPF SA (REP.MC) is not considering any merger plans as the company's outlook is positive, Chairman Antonio Brufau said Tuesday.
During a press conference in which he said the company's projection for production growth has been boosted while the dividend payout ratio will be cut through 2016, he questioned why Repsol would pursue a merger amid the positive outlook.
"Why would we consider a merger when the growth outlook is so strong?" he said.
He also said the company's earnings before interest, taxes, depreciation and amortization--a key metric of a company's operating performance--would nearly double by 2016.
-By Ilan Brat, The Wall Street Journal; +34 913 958 125, email@example.com
(END) Dow Jones Newswires
May 29, 2012 05:43 ET (09:43 GMT)
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