The distribution of dividends must be proposed by EDPR ’s Board of Directors and authorized by a resolution approved in the Company’s Shareholders Meeting.
EDP Renováveis S.A. (“EDPR”), a company incorporated in Spain, informs that the General Shareholders’ Meeting, held on April 6th 2017 in Madrid, approved the proposal of the Board of Directors regarding the payment of a gross dividend of 0.05 Euros per share, subject, in any case, to the applicable tax laws.
Dividends will be available for payment starting on May 8th 2017. The payment of dividends will be made by deposit on the financial institution’s account in which the respective shares, held by each shareholder, are registered. Banco Popular Portugal, S.A. is the paying agent (“Banco Popular”).
Pursuant to Spanish Law and as a general rule, EDPR will apply a withholding tax rate of 19% over the gross dividend to be distributed. Final taxation of the dividend will ultimately depend on the nature and tax residence of each shareholder, where the dividend may be subject to additional taxation. As per the Portuguese tax legislation, dividend will be subject to an additional withholding tax rate of 28% on gross dividends for individuals (unless an option for aggregation is made) and 25% for corporate entities.
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