Considering cash flow generation in 2019 and the Company’s solid capital structure, the General Shareholders’ Meeting, held on 24 of April 2020, approved a cash dividend of €0.70 per share related to 2019, corresponding to a 11% YoY dividend increase. The final payment of €0.38375 per share, to reach the final amount €0.70 per share, is expected to be concluded during May.
It is worth noting the payment of an interim dividend of €0.31625 per share in September 2019, approved by the Board of Directors.
Galp will continue to ensure it has the capital required to implement the planned investment programme, which is critical to the success of the strategic execution. Dividend distribution will continue to be dependent on cash flow generation, value accretive investment opportunities and financial discipline.