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Galp votes to pay a new dividend of 26 cents on May 3rd – the dividend

Galp votes to pay a new dividend of 26 cents on May 3rd – the dividend

Galp voted a new dividend of 26 cents on May 3

This Monday, the oil company called its shareholders to its Magna 3 meeting. Among the items on the agenda is the shareholder bonus of 26 cents per share, at the expense of 2022 results, which comes in addition to the same amount already paid in September in advance.

Felipe Crisostomo Silva, CEO, Galp

Galp Energia held its annual general meeting of the company’s shareholders on May 3, and the Filipe Silva-led company (pictured) announced in advertisement Expose it to CMVM.

Among the items on the agenda are the deliberations on the election of members of the Board of Directors for the period 2023-26 – confirming the proposal to place María João Carioca on the “Board of Directors” – as well as the application of the results of 2022.

Management is proposing that the amount of 26 cents per share be distributed to shareholders, in the form of a dividend – an amount that is added to the 26 cents already distributed as an advance last September, thus amounting to 52 cents per share, for the total amount of €425.06 million.

“The remaining value of the year’s net profit must be transferred to the accumulated results,” the NOC stresses.

Galp ended Monday’s session down 7.65%, at 11.26 euros, in what was the biggest rise in the past 13 months. The rise in crude oil prices at the beginning of the week was after the Organization of the Petroleum Exporting Countries and its allies – the so-called OPEC + group – announced on Sunday a sudden cut in their supplies, in the range of 1, 6 million barrels per day, starting in May.

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