I've been following the upcoming dividends of the Ibex for a while, and honestly, 2026 has been quite interesting. I've noticed a clear pattern: while some stocks are being generous with their shareholders, others are tightening their belts.

Starting with the positive, large companies like BBVA, CaixaBank, and Repsol have been paying solid dividends since the beginning of the year. But what caught my attention the most is how Aena jumped from €0.976 to €1.09 this April, almost a 12% increase. Inditex is also showing interesting figures, and look, Indra is forecasting a 20% increase for July. Now that's news.

Now, if we look at the upcoming dividends of the Ibex in the following months, we need to be careful. Telefónica has implemented a brutal 50% reduction, from €0.30 to €0.15 per share. They say it's part of their strategy to reduce debt, so I guess it's necessary. Enagás has also adjusted downward, from €1.74 to approximately €1.00.

What's interesting is that tourism and luxury remain the most profitable sectors of the Ibex. It seems Spain is benefiting from geopolitical conflicts that divert tourism here. The industry, on the other hand, continues to lag behind.

If you're planning to invest before the next dividend payments, now is a good time to review which ones interest you most. There's quite a bit of seasonal movement before these payments, so if you know where you want to be, the Ibex dividend calendar is your best ally to avoid missing key dates. Things point to moderate growth, so there's room to be optimistic.