Dividend increase for the shareholders of PPC to 55% of net profits by 2026, from 35% today, a period in which an increase in the size of profits is also expected, he announced the president and managing director of PPC, Giorgos Stassis during his speech at today’s annual General Meeting of shareholders.

The General Assembly approved the management’s proposal to distribute a dividend for the year 2023 of 0.25 euros per share, for the first time after ten years, a result, as noted by Mr. Stassis, of the transformation of the Company that began in 2019.

“PPC is on a continuous journey of transformation focusing on the green transition, the development of renewable sources and the gradual withdrawal of lignite units. The change of direction is evident in the results, PPC today is a healthy company that produces value for all stakeholders, able to take advantage of the opportunities presented. The goal is the transformation of PPC into a leading clean energy and critical infrastructure company in SE Europe”, emphasized Mr. Stassis.

The head of PPC repeated the upgrade of the target for operating profits (EBITDA) to 1.8 billion euros in 2024, while according to the data he presented:

  • At the end of 2023, RES units in operation were 4.6 gigawatts while another 2.8 gigawatts were under construction or ready for construction.
  • The exit from lignite will be complete by 2026. In 2023, lignite capacity decreased by 0.9 GW, while RES increased by 1.1 GW.
  • Carbon dioxide emissions in 2023 were reduced by 34% compared to 2022 and amounted to 9.7 million tons.
  • In the telecommunications sector, PPC’s FTTH (Fiber To The Home) network reached 140,000 households in Attica last year and 185,000 at the end of March 2024. The goal in 2025 is to cover 1.7 million households and businesses. The commercial launch of the network will begin in 2024, while for the three years 2024-2026 investments of 680 million are planned in the sector. The General Assembly approved the spin-off of the wholesale telecommunications sector and its contribution to the 100% subsidiary company “Fibergrid”.

Also, the General Meeting approved the establishment of a new share buyback program of up to 10% of the share capital at prices from 2.48 euros (which is the nominal value of the share) to 29 euros per share.

The proposals to the General Assembly were approved with a high majority, from 87 to 99.8%.