EDF to propose 4 bln-euro share issue, scrip dividends in 2016-17
PARIS, April 22 (Reuters) - French state-controlled utility EDF (Paris: FR0010242511 - news) said in a statement it plans to propose a 4 billion euro share capital increase by the closure of its 2016 accounts as well as an option to pay the dividend related to fiscal years 2016 and 2017 in shares.
It (Other OTC: ITGL - news) also said it plans a reduction in operational expenditures of at least 1 billion in 2019 compared to 2015 and said it plans to sell asssets worth about 10 billion euros by 2020.
EDF said these asset sales would include its power grid unit RTE, thermal power generation assets outside France and companies in which it has minority equity stakes. (Reporting by Geert De Clercq; Editing by Greg Mahlich)