Tuesday, 1 April 2025
Home Topics Business Siemens Energy won’t propose dividend for fiscal year 2024
BusinessElectricityInfrastructureNewsOffshore WindWind

Siemens Energy won’t propose dividend for fiscal year 2024

61
FILE PHOTO: Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. —REUTERS/Dado Ruvic/Illustration/File Photo

MUNICH — Siemens Energy has not proposed a dividend for the 2024 fiscal year, citing limitations to its payout policy as a result of obtaining project guarantees last year that are backed by the German government.

A year ago, Berlin supported Siemens Energy with guarantees worth 7.5 billion euros ($8 billion) as part of a deal with other stakeholders to help the troubled energy company fulfil its order book.

The guarantees are part of a package totalling 15 billion euros agreed with private banks and other stakeholders and also impose a pause on dividends and higher level bonuses at Siemens Energy, the economy ministry said at the time.

($1 = 0.9422 euros)

(Reporting by Christoph Steitz; Editing by Lisa Shumaker)

Related Articles

Lilium burnt through huge sums while trying to develop its jet (AFP)

German flying taxi start-up’s rescue deal collapses

A German flying taxi start-up said on Friday it would halt operations...

FILE PHOTO: U.S. Secretary of the Interior Doug Burgum speaks as he attends a signing ceremony with members of the West Virginia Congressional Delegation at the EPA headquarters in Washington, D.C., U.S., February 18, 2025. REUTERS/Kent Nishimura/File Photo

US energy council chief says power plants to produce 15% more electricity

By Valerie Volcovici WASHINGTON (Reuters) – U.S. Interior Secretary and co-chair of...

Cuba has inaugurated a new solar energy park in the capital Havana (AFP)

Cuba opens solar park hoping to stave off blackouts

Cuba on Friday unveiled a new solar energy park in the capital...

FILE PHOTO: Cranes unload imported iron ore from a cargo vessel at a port in Lianyungang, Jiangsu province, China October 27, 2019. REUTERS/Stringer/File Photo

Iron ore heads for weekly gain on brightening demand outlook, China stimulus hopes

By Amy Lv and Lewis Jackson BEIJING (Reuters) -Iron ore futures prices...

Login into your Account

Please login to like, dislike or bookmark this article.