EDP ​​proposes increasing shareholder dividend to 20 cents per share

EDP's Executive Board of Directors will propose to the General Shareholders' Meeting a 3% increase in the dividend for 2024, to the value of 20 cents per share, above the 19.5 cents previously defined as the target.

According to the results report released to the market, the dividend to be proposed represents “a payout ratio of 60%, at the minimum point of the 60%-70% payout ratio range defined for the period 2024-2026”.

EDP's profit fell 16% in 2024 to 801 million euros compared to the previous year, mainly due to the reduction in the contribution of its subsidiary EDP Renováveis ​​(EDPR), the energy company reported today in a statement to the market.

“Including non-recurring effects, mainly related to losses associated with EDPR's exit from projects in Colombia, EDP's reported net income was 801 million euros”, announced EDP today, which in turn highlights “the strong performance of the energy production and management activity in the market and the increase in the contribution of the electricity networks activity in Brazil”.

EDP ​​also announced the launch of a share buyback program worth 100 million euros, to be valid for a maximum period of three months, starting today.

“Considering the good consolidated performance in 2024, the decision to slow down the investment plan and the update of performance expectations for 2025-2026, EDP today announces a share buyback program”, contextualizes the company, which estimates that this program “will have an impact of +1% on net income per share, and an impact of less than 0.1% on the FFO/Net Debt ratio, in line with the strong commitment to maintaining EDP's credit rating at “BBB” level”.

EDP ​​shares closed today up 0.53% to 3.20 euros.