EDP Renováveis S.A. (“EDPR”), a company incorporated in Spain, informs that the General Shareholders’ Meeting, held on April 12th 2021, approved the proposal of the Board of Directors regarding the payment of a gross dividend of €69,784,652.96 and of a complementary distribution of €7,060,000.00, in aggregate €76,844,652.96 which translates into a gross dividend equivalent to €0.08 per share, subject, in any case, to the applicable tax laws.
Dividends will be available for payment starting on May 12th 2021. 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 Santander Totta, S.A. is the paying agent (“Banco Santander”).
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% for individuals (unless an option for aggregation is made) and 25% for corporate entities.
Shareholders with tax residence outside Spain, who reside in a country with which Spain has entered into a Double Taxation Agreement, may, in principle, benefit from a reduced withholding tax rate in Spain foreseen in the respective Agreement (e.g. shareholders with Portuguese tax residence may benefit from a withholding tax rate of 15% in Spain).
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