On Wednesday, the 18th of October, the extraordinary general meeting of state-owned Latvenergo decided to pay its owner an additional dividend of 18.547 million euros from last year’s retained earnings, the company said in a statement to the Nasdaq Riga Stock Exchange.
The additional dividend will be used to reduce the extraordinary increase in energy prices.
As previously reported, Latvenergo’s annual general meeting on the 11th of May this year decided to pay a dividend of 133.991 million euros to the state from last year’s profit, while the rest – 75.37 million euros – would be transferred to retained earnings.
In 2022, Latvenergo’s turnover increased 2.1 times to 1.231 billion euros, while the
company’s profit increased 2.6 times
to 209.362 million euros.
Latvenergo is engaged in the production and sale of electricity and heat, as well as the sale of natural gas and the provision of electricity distribution services. Latvenergo is state-owned and its bonds are listed on the Nasdaq Riga debt securities market.
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