Published on 13/03/2018 11:43:58 AM | Source: Reuters

RWE pledges higher dividends after Innogy break-up deal

Posted in Top Stories| #World Market

ESSEN, Germany  - German utility RWE, which earlier this week struck a landmark deal with rival E.ON to break up its subsidiary Innogy, on Tuesday flagged higher dividends in the years ahead.

"In 2017, our goal was to strategically reposition RWE and consolidate its finances. We were successful in both of these undertakings," Chief Executive Rolf Martin Schmitz said.

The group said the ordinary dividend was expected to rise to 0.70 euros per share in 2018, up from 0.50 euros in 2017, with a further increase planned in 2019. The total dividend payout for 2017 also included a 1.00 euro special dividend due to a nuclear fuel tax rebate.

(Reporting by Christoph Steitz; Editing by Maria Sheahan)