“Enel's dividend strategy remains unchanged, the payout is confirmed at 60% of net operating profit”. This was communicated by a spokesman for the energy company, who specified what was reported by Bloomberg in an interview with the managing director Fulvio Conti.
With a 60% payout of the net operating profit – explains the spokesman – the increase in taxation (equal to about 400 million euros) imposed by the extension of the robin tax to distribution and renewables, will have an effect on the net operating profit and therefore on the amount of the dividend. However, the company can increase operating profit before taxes, reducing investment.
For this reason, Enel's management will seek a balance between these two levers, so as to deal with the novelty of the tax increase. Details will be provided in March, when Enel will announce the new strategic plan. The news about a possible dividend cut got out anyway a reflection in the stock market, where at 15 pm the company's shares lost 3,8%.
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