UTE’s Valentines wind farm will distribute dividends for US$ 6.8 million among its shareholders

UTE’s Valentines wind farm will distribute dividends for US$ 6.8 million among its shareholders

Two weeks ago, the Pampa wind farm also began to distribute its profits in the amount of US$6.6 million.

joint venture

He wind farm valentines located in the department of Treinta y Tres, whose 20% is owned by the state company National Administration of Power Plants and State Electric Transmissions (UTE) and the remaining 80% is listed on the Montevideo Stock Exchange, it will distribute its profits among its shareholders, which reach $6.8 millionas reported by the company that manages it, Areaflin S.A.

The decision to distribute dividends among its small shareholders was approved at the last meeting on April 21, according to the minutes. The Areaflin SA company sells the electricity generated to UTE under the same conditions as the private generators with which the state company has signed contracts for a period of 20 years.

This is an increase in dividends 106%, compared to the 3.3 million dollars that the company recorded in income in 2021, the year in which, thanks to the excess liquidity of the company, there was also a capital redemption of 3.5 million dollars, with the objective of to improve the rate of return to partners

Last year, the park produced 260,565 MWh of electrical energyaccording to the annual report, therefore it generated a flow of $18.8 million and had an operating result of $8.13 million.

The Pampa wind farm will also distribute its profits for US$ 6.6 million

This news comes almost two weeks after UTE reported that its other Pampa wind farm will start distributing profits to its shareholders. The park will begin delivering dividends corresponding to the year 2022, in which it accumulated profits of 6.6 million dollars.

This will be the sixth distribution of funds from the energy enterprise that operates in tacuarembó and sells electricity to the national grid since 2017.

The last annual distribution of funds from the financial trust that it manages Afisa Republic to the holders of participation certificates was in April of last year, for an amount of 5.5 million dollars, corresponding entirely to results.

In addition, until 2022, they had distributed among the shareholders a total of 51.5 million dollarsof which 27 million were for capital reimbursement and 24.5 million for distribution of results.

Source: Ambito

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