March 14, 2019 / 1:25 PM / 12 days ago

E.ON must compensate RWE for lower Innogy dividend - RWE CFO

FILE PHOTO: E.ON headquarters in Essen, Germany, March 15, 2017. REUTERS/Thilo Schmuelgen/File Photo

FRANKFURT (Reuters) - German energy group E.ON will have to compensate RWE for a lower-than-expected dividend Innogy plans to pay for 2018, RWE’s finance chief told analysts on Thursday.

Last year, E.ON and RWE agreed to break up Innogy, an RWE subsidiary, which included E.ON making an offer that values Innogy at 40 euros per share, comprising an assumed Innogy dividend of 1.64 euros (1.4 pounds) for 2018.

Innogy on Wednesday proposed a dividend of just 1.40 euros for 2018, but RWE CFO Markus Krebber said during a call with analysts that E.ON would have to settle the difference to make sure the offer remains 40 euros per share.

Reporting by Christoph Steitz and Vera Eckert,; Editing by Tassilo Hummel

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