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Investing.com -- Amancio Ortega, the founder of retail giant Inditex (BME:ITX) SA, is set to receive a record dividend payout of €3.1 billion ($3.4 billion) this year, marking the first time his annual dividends have surpassed the €3 billion mark. Inditex SA, the parent company of the Zara apparel chain, announced its plan to increase its dividend by 9% this year to €1.68 per share on Wednesday.
Ortega, who owns a 59% stake in Inditex through his family office Pontegadea, is the company’s largest shareholder. His daughter, Marta Ortega, currently serves as the company’s chairwoman.
The dividends are typically used by Ortega to invest in real estate, specifically high-end commercial and residential properties in major cities across Western Europe, Canada, and the United States. In addition to real estate, Pontegadea also invests in renewable energy projects and infrastructure for power, gas, and telecommunications.
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