Endesa Increases Investments and Unexpectedly Reduces Medium-Term Dividend
Endesa has released its 2019-21 business plan, a day after parent company Enel released its plan on Nov. 20. In line with Enel, Endesa plans to significantly increase renewables investments. Unlike Enel, which pledged dividend increases for the next three years, Endesa canceled its usual one-year dividend floor and lowered its medium-term payout ratio. We plan to increase our fair value estimate by a mid-single-digit rate, chiefly on higher regulated networks' profitability due to likely favorab...Endesa is engaged in the production, transmission, distribution, and supply of electricity, through hydroelectric, fossil fuel, and nuclear generation. Co. is also engaged in the mining of coal for use in its fossil-fuel electric plants; mining research; land restoration, and environmental monitoring and control.
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