The renewable energy firm, primarily owned by EDP with a 71.3% stake, put forward a proposal to distribute dividends of 0.08 euros per share, maintaining the ‘scrip dividend’ program which allows shareholders to be compensated through the issuance of new shares.
EDP had previously announced its intent to receive shares under this flexible shareholder compensation scheme, consistent with prior practice.
The renewable arm of the group, led by Miguel Stilwell de Andrade, concluded its 2024 financial year with a loss of 556 million euros.
These results were affected by non-recurring items totaling 777 million euros due to ongoing uncertainty with offshore projects in the U.S. following executive orders from the Trump Administration on January 20, which have stalled wind project developments in the country.
Further financial strain came from the decision to halt investments in the planned 500 MW wind projects in Colombia, “resulting in a total impact of 590 million euros through impairment, provisions for guarantees yet to be incurred, and taxes.”
According to information sent today to the Portuguese Securities Market Commission (CMVM), the remaining 11 agenda items, including the approval of annual accounts and the remuneration policy for the upcoming term’s directors, were also approved at the meeting held this morning.
The proposal to authorize “the Board of Directors to approve the derivative acquisition and sale of own shares of EDP Renováveis and/or its subsidiaries, up to a maximum limit of 10% of its subscribed share capital,” was another measure that secured approval.
Moreover, there was consensus on ratifying the appointment of independent directors Laurie Lee Fitch and Gioia Maria Ghezzi.
