October 24, 2012 / 8:56 AM / 5 years ago

Iberdrola says aims to cut net debt by 6 bln euros to 2014

MADRID, Oct 24 (Reuters) - Spanish utility Iberdrola aims to reduce its net debt position to 26 billion euros ($33.71 billion) in 2014 from 32 billion euros last year, the company said in its 2012-2014 strategic presentation on Wednesday.

The company will cut debt by reducing investments to 10.5 billion euros, 37 percent less than the previous three year period, and making divestments of up to 5 billion euros, it said.

The utility said it would maintain net profit and interest, tax, depreciation and amortisation (EBITDA) in 2014 from 2011.

Iberdrola would pay an average dividend of around 0.3 euros per share, the group said.

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