MADRID, Oct 31 (Reuters) - The chief executive of Spanish oil company Repsol (REP.MC) , opens new tab said on Thursday that the company confirmed its payout outlook despite a significant decline in third-quarter profit.

Third-quarter adjusted net profit fell around 50% as it was hit by a significant decline in oil refining margins.

"As we move forward, our strategic priorities remain intact," CEO Josu Jon Imaz said in a statement, adding that shareholders will get "between 25 and 35 per cent of our cash flow from operations."

Quarterly adjusted net profit fell to 558 million euros ($605.71 million) from 1.1 billion euros a year earlier, slightly below a company-provided average forecast of 567 million euros.

Refining margins declined more than 70% from the same period last year.

($1 = 0.9212 euros)

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https://www.reuters.com/business/energy/repsol-confirms-payout-levels-despite-sharp-q3-profit-decline-2024-10-31/