MADRID, 23 Nov. (EUROPA PRESS) -
Endesa has updated its dividend policy for the period 2024-2026, maintaining a 70% payout for the three-year period, although placing the floor in the remuneration to its shareholders at 1 euro per share, with the expectation of being able to reach the 1.5 euros in 2026, reported the company, which maintains its investments for the next three years at almost 9,000 million euros.
This decision comes after the award issued by the International Court of Arbitration of the International Chamber of Commerce (ICC), by which the energy company must pay about 570 million dollars (about 530 million euros) to QatarEnergy, the state company of Qatar. , for the review of the price of a long-term supply contract for liquefied natural gas (LNG).
The energy company thus contains its dividend policy with respect to its previous plan. It maintains the euro per share for 2023, with an interim payment of 0.50 euros approved to be paid in January, while for 2024, when it forecast 1.2 euros, it guarantees that floor of 1 euro, although it aspires to reach the 1.1 euros, and in 2026 it hopes to reach 1.5 euros per title.
The group highlighted that the objective of rewarding its shareholders with 1.5 euros gross in 2026 would mean a dividend yield of 8%.
To achieve this, Endesa has set its objectives for 2026 to achieve a gross profit (Ebitda) of between 5,600 and 5,900 million euros, a net ordinary profit of 2,200-2,300 million, and a net financial debt of 8,000-9,000 million.
In a context of growing financial costs and inflation, the energy company will maintain a continuous plan with respect to the previous one, with a gross investment for the period 2024-206 that will stand at 8.9 billion euros.
Specifically, distribution networks and renewable generation will be the two pillars of clean electrification, which remain key axes for the company's growth.
Thus, of this investment effort by the group in the period, 2,800 million gross euros will be destined for distribution networks, 200 million more than in the previous plan pending greater visibility on the regulatory review.
Renewables, meanwhile, will be the most important investment item with 4.3 billion euros, the same figure as in the previous plan, with a greater weight of wind power to reach 13,900 megawatts (MW) of renewable capacity at the end of 2026 and with Andorra, Pego and the 800 MW wind power in Galicia as star projects; and 900 million for the customer area to reach 7.5 million in the free market in the Iberian Peninsula at the end of the three-year period, while the electrification of all energy uses guides the commercial strategy.
In addition, Endesa maintains its objective of full decarbonization in 2040, with the exit of coal in the island business as an intermediate milestone in 2027. All this after the closure this year of the last coal plant on the Peninsula, As Pontes. 93% of the electricity company's peninsular production will be emissions-free in 2026, up from 79% at the end of this year.
