“’Dividend payout king’ innogy ensnares shareholders”

Green power-utility innogy has assured its shareholders that it will raise its profits and make high dividend payouts, Frankfurter Rundschau reports. “We want to make money and pay dividends,” CEO Peter Terium said at the first annual stockholders’ meeting of utility RWE’s renewables spin-off. Innogy was going to increase adjusted net earnings to 1.2 billion euros and intended to pay 70 to 80 percent to its shareholders, Terium explained, calling his company a “reliable dividend title”. News agency Reuters said innogy plans to invest up to 1.7 billion euros in renewables projects over the next two years, with half of the money going into onshore wind projects. With regard to the first auction results for German offshore wind power projects, in which several bidders demanding zero support payments were successful, Terium said “we will not pursue projects at just any price”, Reuters writes. The company was going to “carefully weigh up each one” and only implement economically viable projects.

Read the Reuters article in English here.