Meteorologia

  • 27 NOVEMBER 2024
Tempo
10º
MIN 9º MÁX 16º

Galp approves reducing share capital by up to 9% and distributing 422 million

Galp shareholders approved, in a general meeting, a reduction of the oil company's share capital by up to 9%, through the extinction of own shares, and the estimated distribution of 422 million euros in dividends, it was announced today to the market.

Galp approves reducing share capital by up to 9% and distributing 422 million
Notícias ao Minuto

17:36 - 10/05/24 por Lusa

Economia Galp

According to the proposal in question, sent to the Securities Market Commission (CMVM), the Galp Board of Directors also received the necessary powers to, within the indicated limit, "set the number of shares to be extinguished".

This body was delegated to carry out all the acts for the implementation of the reduction of the share capital and to transfer the excess of the legal reserve in the equity to the accumulated results.

At today's meeting, the company's accounts were also approved, as well as the proposal for the application of results, which provides for the distribution of more than 422 million euros in dividends.

At issue is the payment of 0.27 euros per share in circulation, which is added to the 0.27 euros already paid "as an advance on the profits of the 2023 financial year", totaling 0.54 euros.

The total amount to be distributed was estimated, based on the share capital existing on December 31, 2023, at 422,139,515.22 euros.

The agenda also included changes to the remuneration policy for members of the corporate bodies and the granting of authorization to the Board of Directors for the purchase and sale of own shares and bonds, which also received the "green light".

Galp shareholders also proceeded to assess the Board of Directors, the Fiscal Council and the Official Auditor of Accounts.

In today's stock exchange session, Galp shares rose 0.38% to 19.94 euros.

Read Also: Angolan government formalizes Galp's exit from blocks 14 and 32 (Portuguese version)

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