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MarketScreener Homepage  >  Equities  >  Xetra  >  E.ON    EOAN   DE000ENAG999

E.ON (EOAN)
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Takeover target Uniper promises higher dividends

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12/07/2017 | 08:33am CEST

FRANKFURT (Reuters) - German energy group Uniper (>> Uniper SE), subject to a takeover bid from Finnish peer Fortum (>> Fortum Oyj), on Thursday said it planned to pay about 310 million euros (£273.33 million) in dividends for 2018, a year-on-year increase of about a quarter.

FRANKFURT (Reuters) - German energy group Uniper (>> Uniper SE), subject to a takeover bid from Finnish peer Fortum (>> Fortum Oyj), on Thursday said it planned to pay about 310 million euros (£273.33 million) in dividends for 2018, a year-on-year increase of about a quarter.

In a strategy update, Uniper, in which activist investor Elliott Management earlier this week took a 5.32 percent stake, also said that dividends should increase by an average of 25 percent per year until 2020.

"Uniper has demonstrated outstanding performance on the stock market and presents a great opportunity for investors," Chief Financial Officer Christopher Delbrueck said. "Our shareholders will be able to share in this positive trend by continuing to earn significant dividends."

Uniper is opposed to Fortum's 22-euro-per-share offer, which runs until Jan. 16, saying it makes no strategic sense and significantly undervalues the company, whose shares closed at 25.80 euros apiece on Wednesday.

The group, which was spun off from former parent E.ON (>> E.ON) last year, also said it expects adjusted earnings before interest and tax (EBIT) of 0.8-1.1 billion euros next year, down from an expected 1.0-1.2 billion in 2017.

Shares in Uniper, which have more than doubled since their listing in September 2016, were indicated to open 0.3 percent higher in pre-market trade.

(Reporting by Christoph Steitz; Editing by Victoria Bryan)

Stocks treated in this article : Fortum Oyj, E.ON, Uniper SE
Stocks mentioned in the article
ChangeLast1st jan.
E.ON 0.37% 8.491 Delayed Quote.-7.85%
FORTUM OYJ -1.95% 19.33 Delayed Quote.17.55%
UNIPER SE 1.00% 26.15 Delayed Quote.-3.27%
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Financials (€)
Sales 2018 36 201 M
EBIT 2018 2 923 M
Net income 2018 1 452 M
Debt 2018 13 447 M
Yield 2018 5,12%
P/E ratio 2018 12,67
P/E ratio 2019 12,35
EV / Sales 2018 0,87x
EV / Sales 2019 0,91x
Capitalization 18 226 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 10,7 €
Spread / Average Target 27%
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Managers
NameTitle
Johannes Teyssen Chairman-Management Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Karsten Wildberger Chief Operating Officer-Commercial
Marc Spieker Chief Financial Officer
Ulrich Lehner Deputy Chairman-Supervisory Board
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