In light of the deterioration in the earnings prospects of the conventional electricity generation business, the Executive Board of RWE AG decided in its meeting today to adjust the company’s dividend policy. The Supervisory Board endorses the Executive Board’s decision to adjust the dividend policy. The Executive and Supervisory Boards intend to propose to the Annual General Meeting, which will take place on 16 April 2014, a dividend of EUR 1 per common and preferred share. Previous year’s dividend was EUR 2. The dividend proposal for the following fiscal years should be in line with a payout ratio of 40% to 50% of recurrent net income, as opposed to the previous range of 50% to 60%.
RWE maintains the earnings forecast it published in March 2013: the company expects EBITDA of about EUR 9 billion, an operating result of about EUR 5.9 billion and recurrent net income of about EUR 2.4 billion.