Under the articles of association, the profit remaining after the addition to the reserves is at the disposal of the General Meeting of Shareholders (Article 36.2). In addition to these provisions in the articles of association, it was agreed with the shareholders that the to be distributed dividend as from 2023 will amount to maximum 50% of the net profit from ordinary activities, under the condition that this dividend payment would not result in Enexis possibly losing its A rating profile within five years.
The proposed dividend distribution for 2023 is based on 50% of the profit from ordinary business operations after tax of € 72 million and shall be distributed to the shareholders as an exact amount pro rata to the number of shares. The proposed dividend distribution for 2023 amounts € 0.24 per share (2022: € 1.29 per share). This profit appropriation proposal has not been taken into account in the balance sheet as at 31 December 2023.
The proposal for the appropriation of the 2023 result is as follows:
|
€ Million |
2023 |
2022 |
|
Profit for the year |
72 |
1,300 |
|
Allocation to the general reserve |
-36 |
-1,107 |
|
Proposed dividend |
36 |
193 |