Introduction
Iberdrola (IBDSF) (IBDRY) doesn't get much attention here on Seeking Alpha despite its strong dividend yield and reliable dividend hikes in the recent past. While Iberdrola is a Spanish company, it generates less than 40% of its electricity in Spain as the company has diversified into the UK (15%), Brazil (29%), and the USA (16%).
Source: Yahoo Finance
Iberdrola's (wrong) perception of 'being a Spain-focused energy producer' gets reinforced as its only decent listing is on the Bolsa de Madrid exchange, where it's listed with IBE as its ticker symbol