Brisa cuts dividends in half. It will pay 64.6 million euros
In view of the current unfavourable economic climate, Brisa's general meeting decided to halve the amount to be distributed to shareholders.
Brisa’s general meeting decided to cut by half the amount to be distributed to shareholders in dividends for 2019 results. The Board of Directors proposed 120 million euros or over 78% of last year’s profits, but the amount was reduced to 64.6 million, according to Jornal de Negócios.
The decision was taken at Wednesday’s general meeting led by Vasco de Mello, based on the current economic climate most unfavourable to the infrastructure company’s operations. Thus, shareholders decided to reduce dividend payments to 64.6 million euros, with the remaining amount – 87.3 million euros – in the company as free reserves. The payments will be made on May 31.
In 2019, the motorway concessionaire that was recently sold recorded profits of 151.9 million euros, so 64.6 million euros represents a payout of approximately 42%.
