Finance
EXCLUSIVE Czech finance ministry proposes beefed-up CEZ dividend
PRAGUE, June 20 (Reuters) – The Czech Finance Ministry has proposed that state-controlled utility CEZ (CEZP.PR) pays a dividend of 48 crowns per share this 12 months, reasonably tyhan the 44 crowns proposed by the corporate’s board, the ministry mentioned on Monday.
The upper dividend, to be voted on at an annual assembly on June 28, would quantity to 25.8 billion crowns ($1.1 billion) reasonably than the 23.7 billion crowns proposed by the board. The state owns 70% of CEZ.
The proposal would additionally transfer the cost date by three months to Nov. 1 from Aug. 1 to present CEZ additional time to safe liquidity given excessive margin necessities on energy exchanges in a unstable market, the ministry mentioned.
($1 = 23.4760 Czech crowns)
Reporting by Jan Lopatka and Robert Muller
Modifying by David Goodman
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