Portugal's EDP maintains capex of 9 billion euros despite coronavirus

Portugal's EDP maintains capex of 9 billion euros despite coronavirus

Reuters  | Apr 16, 2020 18:15

Portugal's EDP maintains capex of 9 billion euros despite coronavirus

LISBON (Reuters) - Portugal's biggest utility EDP (LS:EDP) said on Thursday it will maintain the same capex expenditure of 9 billion euros over the next three years despite the economic crisis caused by the coronavirus outbreak.

© Reuters. Spread of the coronavirus disease (COVID-19) in Lisbon

Speaking at an online news conference, EDP Chief Executive Antonio Mexia said the company expected not to cut its dividend, keeping the payout ratio at 75%-85% of net income, with a floor of 0.19 euros per share.

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