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HomeGamingRWE plans to raise dividend for 2023

RWE plans to raise dividend for 2023


ESSEN, Germany, March 21 (Reuters) – RWE (RWEG.DE), Germany’s greatest energy, promised a greater dividend and more financial investments on Tuesday to broaden its core renewables company, improving its shares in pre-market trade.

RWE has actually been reasonably protected from the energy crisis that grasped Europe in 2015, generally due to its low direct exposure to Russian fuel imports, and was even able to broaden in the U.S. renewables market through a $6.8 billion acquisition.

Net financial investments of 4.4 billion euros ($4.7 billion) in 2022 would be surpassed this year, the business stated, likewise revealing a dividend of 1 euro per share for 2023, a boost of 11% year-on-year.

“RWE is among the global motorists of the energy shift. We now hold a leading position in all our core areas– in the EU, the UK and the U.S.,” Chief Executive Officer Markus Krebber stated.

“We will continue to reinforce this position through huge financial investment in our green core company.”

Shares in the business were up 2.1% in pre-market trade.

For 2023, RWE anticipates adjusted revenues prior to interest and tax (EBIT) to come in between 3.6 billion and 4.2 billion euros ($3.9 billion-$4.5 billion), a decrease of as much as a 5th compared to 2022 levels.

According to the Vara survey supplied by the business, experts anticipate changed EBIT of 3.8 billion euros.

The business’s 2022 outcomes, which were pre-released in January, had actually likewise been enhanced by most likely one-time elements such as a huge trading earnings and high margins at RWE’s gas-fired power plants on the back of greater wholesale costs.

($1=0.9342 euros)

Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Paul Carrel and Sherry Jacob-Phillips

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