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

2nd August, 2020
Energia defers parent dividend due to Covid-19
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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Battery storage connected to electricity grid increases by 600%

Energy Daniel Murray 3 weeks ago

Irish businesses can be world leaders on green energy, says demand response expert

Energy Daniel Murray 3 weeks ago

Sea change: Are floating wind farms the answer to Ireland’s energy needs?

Energy Lorcan Allen 3 weeks ago

NI grid effectively being run from Dublin, British utility regulator finds

Energy Daniel Murray 3 weeks ago