Taesa (TAEE11) announces JCP payment and proposes to distribute proceeds of at least 75% of regulatory net profit in 2024

Published at 9:49 pm

Updated at 8:45 am on 9/05 with quarterly results data

Taesa’s Board of Directors (TAEE4, TAEE11) in a meeting held this Wednesday, 8th, approved the distribution of earnings, based on the interim financial statements prepared on March 31, 2024, in the amount of R$ 144,893,174 .22, as interest on equity (JCP).

Interest on equity per TAEE3/TAEE4 share is R$0.14019703331.

Interest on equity per TAEE11 unit is R$0.42059109993.

Payment of the JCP will occur on June 27, 2024, based on the shareholding position on May 13, 2024. From May 14, 2024, the shares and units will be traded “ex-JCP” on the B3.

Taesa proposes to distribute profits of at least 75% of regulatory net profit in 2024

Taesa also announced on Wednesday night, the 8th, a proposal for the distribution of earnings.

“Aiming to execute the strategic planning and greater predictability on the part of the market, the calculation basis for the distribution of the company’s earnings will be the regulatory net profit from 2024 onwards”, explained the energy transmission company in a relevant fact.

For the 2024 fiscal year, the proposed distribution of profits will be at least 75% of the regulatory net profit.

From the 2025 fiscal year onwards, the company’s intention is to propose the distribution of profits between 90% and 100% of regulatory net profit.

“This proposal for the distribution of profits does not generate acquired rights for shareholders, with the entire distribution being subject to the cash generation and financial situation of the company, the need to allocate resources to cover investment plans, as well as due corporate approvals” , said Taesa.

The proposal does not change the distribution of minimum mandatory dividends provided for in Taesa’s Bylaws, which consists of a non-cumulative annual dividend of at least 50% of the adjusted net profit for the year.

In this sense, the calculated annual distribution value must always be greater than or equal to 50% of the IFRS net profit for the year, after the due legal and statutory adjustments.

“The change in the calculation basis for the distribution of earnings to regulatory net profit reinforces the company’s strategy based on sustainable growth and financial strength and allows for greater predictability in the distribution of earnings based on Taesa’s cash generation”, highlighted the broadcaster.

Result in 1Q24

Taesa (TAEE11) had an IFRS net profit of R$374 million in the first quarter of 2024, which represents a drop of 3.3% compared to 1Q23.

On the same basis of comparison, regulatory net profit was R$193.2 million, a reduction of 10.3%.

IFRS Ebitda totaled R$558.2 million in 1Q24, an increase of 2% compared to 1Q23.

IFRS net revenue totaled R$731.3 million in the first quarter of this year, growth of 5.5% compared to the same stage in 2023.

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