Energy company ERG plans higher dividend, 1.2 bln euros in investment in 2026

Erg SA

15/05/2024 17:59

May 15 (Reuters) - Italian energy company ERG  ERG.MI 
on Wednesday published a new 2024-2026 business plan, under
which it pledges to pay a dividend of up to 1.3 euros ($1.41)
and invest up to 1.2 billion euros.
    The group said it would define the dividend year by year,
but guarantees a minimum value of one euro, the amount included
in the previous plan.
    ERG, which generates power mostly from wind and solar
sources, will invest in countries where the group already
operates, with a focus on the US
    "Growth will be pursued through a strategy that we have
called 'Value over Volume', an extremely selective approach in
the choice of investments", Chief Executive Officer Paolo Luigi
Merli said.    
    It expects core profits to reach 600-650 million euros in
2026.
    


($1 = 0.9202 euros)

 (Reporting by Alberto Chiumento. Editing by Jane Merriman)
 ((Alberto.chiumento@thomsonreuters.com))