Siemens Energy Accelerates Dividend Distribution by One Year
Siemens Energy, the German energy company, has received approval from the Budget Committee of the German Parliament to distribute a portion of its profits to shareholders for the current fiscal year. This move comes as the company has recovered from a crisis that saw significant losses and had to abide by certain restrictions due to the utilisation of state guarantees.
The exact amount of the dividend payment will be determined based on the final profit figure for the current year, which ends in September. The current forecast predicts a surplus of up to one billion euros for Siemens Energy in the current year. If this surplus is reached, Siemens Energy could distribute up to 600 million euros to shareholders.
If the company decides to distribute 60% of the predicted surplus, it would pay 600 million euros as a dividend. However, it's important to note that Siemens Energy has not confirmed any specific plans for a dividend payment for the fiscal year 2022-2023.
Since its spin-off from Siemens, Siemens Energy has only paid a dividend once: in 2021, when it paid 10 cents per share. This would be the second dividend payment by Siemens Energy since its spin-off, if the plans for a dividend payment in the current fiscal year are realised.
It's worth mentioning that Siemens AG, after spinning off Siemens Energy, has a recent dividend streak of three years. However, this refers to Siemens AG itself, not Siemens Energy separately.
In conclusion, while Siemens Energy has the potential to pay a dividend to its shareholders a year earlier than expected, the exact amount and confirmation of the payment are still pending, depending on the final profit figures for the current year.
The potential dividend payout by Siemens Energy could be significant, as it may distribute up to 600 million euros to shareholders if the forecasted surplus of one billion euros is achieved. This planned dividend payout, if confirmed, would mark the second dividend payment by Siemens Energy since its spin-off from Siemens. Additionally, the finance industry will closely monitor the energy sector, as the approved distribution of profits by Siemens Energy indicates a recovery for the industry, particularly for players who have previously faced crises and required state guarantees.
