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Energa SAEnerga power to earmark 2024 profit for supplementary capital increase; no dividend to be paid
The management board of listed power utility Energa, Poland's largest energy concern Orlen's subsidiary, has decided to recommend to is shareholders allocating the company's 2024 net profit in the amount of nearly PLN 306.12 million (EUR 71.57 mln) to the supplementary capital, which will result in no dividend payment, Energa said in a market filing.
"The management board of Energa SA informs that on April 30, 2025, it decided to recommend to the general meeting of Energa SA to transfer the company's net profit for 2024 in the amount of PLN 306,117,805.86 to increase the supplementary capital, which will result in no dividend payment," Energa said in the market filing.
"Retaining profit in the company is necessary to achieve the goals set in the 'Strategic Development Plan of the Energa Group for 2024-2030' and to implement the investments described in the 'Long-Term Strategic Investment Plan of the Energa Group for 2024-2030'," it added.
The power utility continued that in accordance with the current version of its long-term strategic investment plan, the group plans to a significant expenditure on the construction of CCGT power plants in Ostroleka and Grudziadz, the construction of new renewable energy sources, as well as the modernisation and expansion of the distribution grid.
Total expenditure planned for 2024-2030 will amount to approximately PLN 47.9 billion (EUR 11.2 bln).
ao/