Naturgy committed to dividend regardless of IFM bid outcome

Foto Volt Eko Energia SA

30/09/2021 10:36

MADRID, Sept 30 (Reuters) - Spanish energy group Naturgy
 NTGY.MC  said on Thursday its board plans to stick with the
current dividend policy regardless of the outcome of a partial
takeover bid by Australian fund IFM Investors.
    IFM has launched a 4.9 billion euros ($5.8 billion) bid to
acquire a 22.69% stake in the Spanish energy group.
    Its vice-president, Jaime Siles, who is leading the bid in
Spain, said on Wednesday the fund would accept a reduced
dividend to support Naturgy's development plans, prompting
speculation of an impending cut.   L8N2QV3LP    
    But Naturgy reiterated on Thursday that its board has not
"considered in any moment" reviewing the company's five-year
strategic plan approved in July, which includes a dividend
policy. 
    The dividend policy approved "is compatible with the
company's investment and growth ambition, as well as with the
financial prudence to maintain a BBB rating level", Naturgy said
in a market filing.
    Naturgy also said the goal of the takeover is not to delist
the company.

 (Reporting by Corina Pons
Editing by Nathan Allen and Elaine Hardcastle)
 ((corina.pons@thomsonreuters.com; +58 4241176064; Reuters
Messaging: corina.pons.thomsonreuters.com@reuters.net))