Galp has indicated it may revise its long-standing dividend policy in the wake of its agreement with Moeve.
The Portuguese energy company stated that its objective remains delivering the expected return to shareholders, but the strategic shift necessitates a review of the current payout structure.
The potential policy adjustment comes as the company is set to propose a 10% increase in its dividend, raising the payout to €0.
Under the existing framework, Galp targets distributing one-third of its operating cash flow to investors.
The potential policy adjustment comes as the company is set to propose a 10% increase in its dividend, raising the payout to €0.35 per share.
This distribution is scheduled for payment in August, providing shareholders with a near-term return on the company’s robust first-half financial performance.
The proposed hike reflects Galp’s strong operational results despite broader market headwinds.