Despite drop in profits, EDP proposes to increase dividend by 3% to 0.2 euros

EDP's management will propose to shareholders that they distribute a gross dividend of 0.2 euros per share, an increase of 3% compared to the 0.195 euros paid last year and which was the amount previously defined as the target for this year, the electricity company said this Wednesday in a statement to the Securities Market Commission (CMVM).

EDP ​​states that this dividend "represents a payout ratio of 60%, at the minimum point of the 60%-70% payout ratio range defined for the period 2024-2026".

The dividend increase comes despite the company's profits falling 16% in the 2024 financial year, to 801 million euros.

Taking into account the closing price this Wednesday (3.196 euros), the dividend yield stands at 6.26%.