Dividends

edp share

Value for you, in the first place

EDP's primary goal is to create value for its shareholders. We've been doing it since 1997, through the appreciation of EDP shares in the stock market and the distribution of dividends.

Our Dividends Policy

The payment and the amount of dividends to be distributed are subject to a proposal from the Executive Board and subsequent approval by the Shareholders' General Meeting.

On Investor Day, held on May 14, 2014 with foreign and Portuguese investors and analysts, the Executive Board decided to present the General Meeting with a proposal consisting of an annual "payout" between 55% and 65% of the recurring net income, having the minimum dividend per share paid in 2011 (€0.185/share).

  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    1997 (1)
    18-May-98
    12-May-98
    0.648
    0.534
    0.534
    84%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    1998 (1)
    28-May-99
    24-May-99
    0.698
    0.620
    0.620
    80%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    1999 (1)
    31-May-00
    26-May-00
    0.698
    0.611
    0.611
    82%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2000 (2)
    31-May-01
    28-May-01
    0.140
    0.119
    0.119
    76%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2001
    06-Jun-02
    03-Jun-02
    0.113
    0.099
    0.093
    75%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2002
    18-Jun-03
    13-jun-03
    0.090
    0.079
    0.074
    81%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2003
    30-Apr-04
    27-Apr-04
    0.090
    0.083
    0.079
    71%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2004
    29-Apr-05
    26-Apr-05
    0.09243
    0.085
    0.080
    77%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2005
    28-Apr-06
    25-Apr-06
    0.100
    0.090
    0.090
    34%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2006
    04-May-07
    30-Apr-07
    0.110
    0.099
    0.099
    42%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2007
    08-May-08
    05-May-08
    0.125
    0.10
    0.10
    50%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2008
    14-May-09
    11-May-09
    0.140
    0.112
    0.112
    47%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2009
    13-May-10
    10-May-10
    0.155
    0.124
    0.124
    55%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2010
    13-May-11
    10-May-11
    0.170
    0.133
    0.133
    58%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2011
    16-May-12
    11-May-12
    0.185
    0.139
    0.139
    60%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2012
    23-May-13
    20-May-13
    0.185
    67%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2013
    29-May-14
    26-May-14
    0.185
    67%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2014
    14-May-15
    12-May-15
    0.185
    65%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2015
    18-May-16
    16-May-16
    0.185
    74%
  • Year
    Payment Date
    Ex-Dividend Date
    Gross Dividend
    Net Dividend Resident
    Net Dividend Non Resident
    Payout Ratio*
    2016
    17-May-17
    15-May-17
    0.19
    72%

Notes:

(1) Figures converted from escudos to euros, rounded to three decimal places.
Gross dividend per share, in escudos, was 129$87 in 1997, and 140$00 in 1998 and 1999.

(2) After the stock-split, in 20 July 2000, each share was converted into five.

* Payout Ratio = Gross Dividend per share / Net Income per share

Frequent Questions

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What is EDP's dividend policy?
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In EDP Capital Markets Day that took place on May 5, 2016, with national and international investors and financial analysts, the Executive Board of Directors said that will propose in the Annual General Meeting a payout between 65%-75% of recurrent net income with dividend per share from 2017 (0.19 euros) as a floor.

 

When does EDP pay dividends?
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According to the existing legislation, the payment of the annual dividends can not take place 30 days after the shareholder's meeting that approves it.

Looking for information on the last dividend payment dates, please visit the table above. 

Until when are my shares entitled to dividend?
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Only the shares held until the third week day prior to the payment date (ex-dividend date) are entitled for dividend. For example, in 2005, the dividend was available for shareholder on April, 29th. Therefore, after the April, 26th inclusive (ex-dividend date) the shares were trading with no right for that dividend.
Which is the taxation on dividends?
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Resident shareholders

Dividends paid to corporate shareholders are subject to a 25% withholding tax rate which shall be considered as an advance tax payment (being deducted from the final tax to be paid by Portuguese resident entities).

This taxation may be avoid if certain requirements are met, namely if the shareholder (i) holds a participation higher than 5% of EDP’s share capital, (ii) for a minimum period of 24 months (or commitment to meet that period of time), (iii) is not a pass-through entity (i.e. a fiscally transparent entity) and (iv) the dividend payer is a corporation liable to corporate income tax (“CIT”), as EDP is.
Pension Funds and similar Funds, Saving Funds (retirement, education and retirement/education) and Organizations of Public and Social Interest (duly recognized by the Portuguese State) are exempt of withholding tax. Investment Funds are taxable as individual shareholders.

Dividends paid to individual shareholders are subject to a 28% withholding tax rate. However, resident investors may opt to include these dividends in its total taxable income benefiting from a tax reduction of 50% and being liable to the progressive tax rates set forth in the Personal Income Tax Code. If such option is made, any withholding shall be deemed as an advance tax payment.

Non-resident shareholders

Dividends paid to corporate shareholders are subject to a domestic withholding tax rate of 25%.

However, dividends may be tax exempt in Portugal when paid to the residents of:
 

the EU;
the EEA, provided that those countries are bounded by an agreement for tax cooperation within the scope agreed within the EU;
a country with which Portugal has signed a tax treaty with an exchange of information mechanism, and
Switzerland.
In order to apply for this tax exemption some conditions must be met such as:
 

A 5% share participation for at least 24 months before the distribution, and
The company receiving the dividends should be liable to CIT; or to a tax listed in the EU parent subsidiary directive, or to a tax comparable to the Portuguese CIT at a nominal rate corresponding to at least 60% of the Portuguese rate.
In what regards Switzerland, the minimum holding requirements are increased to a 25% share participation for at least 2 years. Additionally, within the terms of double taxation treaties signed by Portugal and by Switzerland neither the parties may be deemed as resident for tax purposes in a third country and both entities must be subject to corporate tax and incorporated as limited liability companies.