EDP in the Stock Exchange

edp share

EDP on the Stock Exchange

Track the performance of EDP on Euronext Lisbon and see all the available stock market information.

Bonds

Calculate your income

EDP provides an interactive tool for its bond investors to calculate the return on their investment.

Shares / Bonds

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Who are the main shareholders of EDP?
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To access an up-to-date list of investors with qualifying holdings in EDP's share capital, visit Shareholder Structure.
Who are the analysts that cover EDP?
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For a list of equity analysts that follow EDP please visit Equity Analysts.
 
Where can I get information on Energias do Brasil?
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For additional information please visit the website of Energias do Brasil edp.infoinvest.com.br or contact the company's Investor Relations department on ri@edpbr.com.br.
 
Where can I get information on EDP Renováveis?
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For additional information please visit the website of Energias Renováveis www.edpr.com  or contact the company's Investor Relations department on ir@edpr.com.
 
How do I know the price at which I bought EDP shares?
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You must ask to your bank account manager, since your shares are deposited in your bank and therefore that information must be in the bank’s database. EDP does not have any way of providing that information.

If you bought the shares within a re-privatisation phase you may get the price at re-privatization page.
 
Apart from taxes, which costs may I face when having shares or bonds?
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You may incur in the main following costs:

- Commission charges (whenever you purchase or sell shares or bonds)
- Safe custody charges (whenever you hold shares or bonds)
- Dividend payment or bond coupon interests payment fees (whenever you receive dividends or coupon interests)
- Bond redemption fees (whenever your receive the bond redemption)

As these services are charged differently from bank to bank you must contact your bank to know its own pricing.
 
What is an ADS?
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An ADS (American Depositary Shares) is a security that is issued by a depositary bank representative of the possession of ordinary shares of the company.

Please visit our ADS Program.

How can I buy EDP’s bonds?
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You can buy in the primary market, whenever EDP issues new bonds or in the secondary market, since previously issued bonds are listed in stock exchange markets. In either case you must contact your broker or bank.

For further information please visit Bond issues.

Taxes

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What was the fiscal regime on the EDP's 2004 subscription rights?
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Income resulting from the sale of subscription rights attributed in November, 8th 2004, was considered as capital gains.

For further information on EDP's 2004 capital increase and its consequences, please visit  5th phase of reprivatisation - capital increase.

Which taxes do I pay 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.

For more information regarding the conditions for applying these exemptions, please see question "How to avoid double taxation?".

Domestic tax rates may also be reduced pursuant to the application of a Double Tax Treaty (“DTT”) entered into between Portugal and the country of residence of the non-resident shareholder. 

Depending on the Treaty, a withholding tax rate between 5% and 15% may be achieved. For more information regarding the application of DTT, please see question "How to avoid double taxation?".
Dividends paid to individual shareholders are liable to a withholding tax of 28%, which can be also reduced under a Double Tax Treaty entered into between Portugal and the country of residence of the non-resident shareholder. For more information regarding the application of Double Tax Treaty, please see question "How to avoid double taxation?".

What is the tax treatment on capital gains arise from the disposal of shares?
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Resident shareholders

Capital gains derived by corporate shareholders arising from the disposal of shares are subject to the standard corporate income tax rate of 23%, plus a municipal surcharge (up to a maximum of 2.5%) and a state surcharge (between 3% and 7% for entities with tax profits exceeding € 1.500.000), resulting in an aggregate corporate income tax rate of 31.5%.

In what concerns individual shareholders, capital gains arising from the disposal of shares and other marketable securities trigger a tax rate of 28%. However, resident investors may opt to include these gains in their total taxable income (being liable to the progressive tax rates foreseen in the Personal Income Tax Code).

Non-residents shareholders

Capital gains derived by corporate and individual shareholders from the disposal of shares, securities, autonomous warrants issued by residents and financial derivatives issued in a regulated stock market, are exempt in Portugal, unless:

a) the non-resident entity is held, directly or indirectly, by resident entities in more than 25%;
b) the non-resident entity is resident in a territory that is a listed tax haven, or
c) the capital gains arise from the transfer of shares held in Portuguese companies whose assets are constituted in more than 50% by immovable property located in Portugal or in a holding company (SGPS) that controls such a company.

If this exemption is not applicable, capital gains arise from the disposal of shares, securities, autonomous warrants issued by residents and financial derivatives issued in a regulated stock market, when obtained by corporate shareholders trigger a taxation of 25% whereas individual shareholders are liable to a 28% tax rate.

Please note that this taxation may, eventually, be avoided by a DTT that grants the State of residence the right to tax this sort of income however this must be analyzed within the appropriate Treaty.
Non-resident entities (corporate investors) that obtain capital gains from the disposal of shares of Portuguese companies must submit a tax return until the last day of May of the following year or until the 30th day after the sale.
 

Which taxes do I pay on bond interests?
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Resident investors

Interest on bonds paid to corporate investors triggers withholding tax at a 25% rate, which shall be considered as an advance tax payment (being deducted from the final tax to be paid by Portuguese resident entities).

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.

Interests on bonds paid to individual investors are liable to withholding tax at a 28% rate. However, resident investors may opt to include these interests in their total taxable income 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 investors

Interests on bonds paid to corporate investors and to individual investors are exempt of taxation when paid to:

a) central banks, governmental agencies or international organizations recognized by the Portuguese State;
b) residents of a country with which Portugal has signed a tax treaty with exchange of information mechanism, or
c) entities that cannot be deemed as resident in a territory listed as a tax haven.

From 1 July 2013 onwards, the payment of interest (including interest on bonds) made by Portuguese companies to EU and Swiss resident companies are exempt from withholding tax, according to the Directive 2003/49/CE, provided that:

a) both the debtor and the beneficiary are incorporated under a legal form foreseen in the Annex to said Directive;
b) both companies are subject to tax on corporate income, without the possibility of being exempt;
c) there is a direct participation of 25% or more between those companies, or they are both owned in 25% or more by a third company, which complies with the above conditions, as long as in all three situations a minimum two year holding period is met.

For more information regarding the application of the EU Directives, please see question "How to avoid double taxation?".

Domestic tax rates may also be reduced pursuant to the application of a DTT entered into between Portugal and the country of residence of the non-resident investor. Depending on the DTT, a withholding tax rate between 5% and 15% may be achieved. For more information regarding the application of DTT, please see question "How to avoid double taxation?".
 
What is the tax treatment on capital gains arise from the disposal of bonds?
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Please see the question on the capital gains realized on the disposal of shares.
How to avoid double taxation?
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Dividends

In order to benefit from the tax exemptions foreseen in Portuguese tax law for residents in the EU, in the EEA, in Switzerland and in a country with which Portugal has signed a tax treaty with an exchange of information mechanism (please see question “Which taxes do I pay on dividends?), the shareholder must prove his tax residence and his tax liability by providing a certificate of residence issued by the tax authorities of the State of residence.

Being applicable a reduced tax rate in accordance to a tax treaty signed by Portugal (which does not foresee an exchange of information mechanism) the shareholder must also prove his residence by filling out a form approved by Portuguese tax authorities, the 21-RFI Form. This form should be duly certificated by the tax authorities of the State of residence or, alternatively, the shareholder may fill-out the 21-RFI Form and provide, as an attachment, a certificate of residence issued by tax authorities confirming his tax residence and tax liability.

The 21-RFI Form must be completed in triplicate. One copy should be delivered to the paying agent (who is responsible for withholding the tax), another copy should be delivered to the tax authorities of the shareholder’s country of residence and the third copy should be kept by the beneficiary.

Interest

If the investor receives interest on bonds and wants to benefit from the tax exemption foreseen in the Directive 2003/49/CE, the requirements set forth in that Directive should be proved through the filling out of 01-DJR Form. This form should be completed in the same way as explained for the 21-RFI Form.

Being applicable a reduced tax rate on interest in accordance to a tax treaty signed by Portugal the investor must also prove his residence by filling out a form approved by Portuguese tax authorities, the 21-RFI Form, as described above for dividends.

I have already been double taxed. How can I be reimbursed?
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An investor can claim the reimbursement of the withheld tax if the requirements to benefit from a tax exemption or a reduced tax rate foreseen in a Double Tax Treaty for dividends and interest, are met.  

Should a tax exemption is applicable (e.g. residents in the EU, in the EEA, in Switzerland and in a country with which Portugal has signed a tax treaty with an exchange of information mechanism -please see questions “Which taxes do I pay on dividends?” and “Which taxes do I pay on bond interests?”), a reimbursement claim can be submitted within 2 years. This claim must be accompanied by a declaration issued by the tax authorities of the State of residence attesting that the requirements set forth for the application of the tax exemption are met. 

 Should a reduced tax rate is applicable, according to a tax treaty signed by Portugal (which does not foresee an exchange of information mechanism), the reimbursement claim must be submitted within 2 years by filling out a form approved by the Portuguese tax authorities, the 22-RFI Form, which must be duly certified by the tax authorities of the State of residence. Alternatively, the 22-RFI Form can be fill-out by the investor and accompanied by an official document, issued by the residence tax authorities attesting the investor’s tax residence and tax liability.

The 22-RFI Form must be filled in triplicate. One copy should be sent to the Portuguese tax authorities, another copy should be delivered to the tax authorities of the beneficiary’s State of residence and the third copy should be kept by the beneficiary. 

 In the case of interest (including interest on bonds) and the application of the tax exemption foreseen by Directive 2003/49/EC, the beneficiaries may submit a claim within 2 years before the Portuguese tax authorities by filling out a form approved by the Portuguese tax authorities, the 02-DJR Form, which should be filled in the same way as explained for 22-RFI Form. 

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For further information please consult the Portuguese Tax Authorithies website in http://www.portaldasfinancas.gov.pt.