Uniper: raises dividend after 2018 targets reached
(CercleFinance.com) - Uniper said that it has achieved its financial targets for the 2018 financial year, despite an "extremely difficult market environment.
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The German energy group reported adjusted EBIT of 865 million euros for the last year, down 22%, although witihin its target range of 800 million to 1 billion euros.
Due to impairment charges on power plants and the gas-storage portfolio in Germany, Uniper recorded a net loss of 492 million euros for the past year, compared to a net loss of 538 million euros in 2017.
The Düsseldorf-based company plans to propose a dividend payout of 329 million euros, or 0.90 euro per share, again more than the original target of 310 million euros for 2018.
For 2019, it plans to make a total dividend payout of 390 million euros, it added.
However, the group's operational outlook for 2019 seemed to disappoint investors: Uniper said it expects adjusted EBIT expected to be between 550 million and 850 million euros this year.
The shares are currently down 1.5% following the report.
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