Sunday August 9, 2020

Energia defers parent dividend due to Covid-19

Energy firm told investors it was withholding €40 million payment until it assessed the impact of the pandemic

Ian Guider

Markets Editor

2nd August, 2020
Energia, which was previously known as Viridian Group, said it had about €190 million in cash available in March, which is the end of its financial year

Energia, the country’s second-largest electricity supplier, has postponed a €40 million dividend payment to its parent company because of Covid-19.

The company said in a presentation to debt investors in recent weeks that while it had sufficient amounts of liquidity available, it had decided to defer the payment until it determined the impact of Covid-19 on its business.

The payment was due to be made to I Squared Capital, the New York investment...

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