March 18, 2020 / 7:20 AM / 16 days ago

Hydropower producer Verbund sees 2020 profit grow more slowly

VIENNA, March 18 (Reuters) - Austrian hydropower producer Verbund said on Wednesday it expects its profit to grow more slowly this year after posting a 28% increase in 2019, which was boosted by a sharp rise in electricity prices.

The Alpine country’s largest utility said it expects a 2020 adjusted group result between 510-630 million euros ($561-$693 million) after reaching 555 million euros last year.

Verbund said it would propose a dividend of 0.69 euros per share for 2019 and plans a payout ratio of 40-50% for 2020.

$1 = 0.9085 euros Reporting by Kirsti Knolle; editing by Thomas Seythal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below