The Board of Directors of Endesa, a Spanish company of the group Enel, gave the go-ahead yesterday to pay an additional extraordinary dividend in cash to the benefit of the Italian parent company, which will be paid in the form of an interim dividend on the profits for 2014, equal to 6 euros per share, for a total amount of 6,3 billion euros. This was announced by Enel in a note, specifying that the objective is to "achieve a more balanced and efficient capital structure of the company".
Following the announcement, Enel shares in Piazza Affari opened up 0,5%, a 3,942 euros, in contrast with the Ftse Mib, which travels just below parity in the same minutes.
The new extraordinary dividend "added to the one already disclosed to the market on 17 September and submitted to the approval of the shareholders' meeting convened for 21 October 2014 - continues the note - of 7,795 euro per share, for a total amount of 8.252.972.752,02 60,62 euro, linked to the sale to Enel Energy Europe of the XNUMX% stake held directly and indirectly by Endesa in the capital of the Chilean Enersis”.
The extraordinary dividends will be paid on October 29, following the execution of the sale to Eee of the stake held by Endesa in Enersis.
Endesa's board of directors, underlined Enel, also approved a new dividend policy for 2014-2016 which, "in the light of the high level of cash generation expected by Endesa, envisages for the 2014 financial year the distribution, in addition to interim dividend of an extraordinary nature of 6 euros per share and a further extraordinary dividend of 7,795 euros, an ordinary cash dividend of 0,76 euros per share, for a total amount of approximately 800 million, to be paid in course of 2015”.
For 2015 and 2016, the note concludes, there is the objective of an increase in the ordinary dividend of 0,76 euro "to the extent of at least 5% on an annual basis" and the payment of ordinary dividends "in two solutions, during the months of January and July, in line with what is practiced by the main competitors".
