EDP Renováveis S.A. (“EDPR”), a company incorporated in Spain, informs that the General Shareholders’ Meeting, held on March 26th, 2020 in Madrid, approved the proposal of the Board of Directors regarding the payment of a gross dividend of 0.08 euros per share, subject, in any case, to the applicable tax laws.
Dividends will be available for payment starting on April 24th, 2020. 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% on gross dividends for individuals (unless an option for aggregation is made) and 25% for corporate entities.
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