PPC shareholders will receive an increase in the dividend to 55% of net profits by 2026, up from 35% today, during which time an increase in the size of profits is expected, announced PPC Chairman and CEO George Stassis during his speech at today's Annual General Meeting of shareholders. The General Meeting approved management's proposal for a dividend distribution for the 2023 financial year of EUR 0.25 per share for the first time in ten years, the result, as Stassis noted, of the transformation of the company that began in 2019.

"PPC is on a continuous transformation journey focusing on the green transition, the development of renewable sources, and the gradual retirement of lignite-fired units. The change, of course, is evident in the results. PPC is now a healthy company that generates value for all stakeholders and is able to take advantage of the opportunities that present themselves. The goal is to transform PPC into a leading clean energy and critical infrastructure company in SE Europe," Stassis said.

The PPC chief reiterated the upgrade of the operating profit (EBITDA) target to EUR 1.8 billion in 2024, while according to the data he presented:

• At the end of 2023, 4.6 gigawatts of renewable energy plants were in operation, while another 2.8 gigawatts were under construction or ready for construction.
• The exit from lignite will be completed by 2026. In 2023, lignite capacity decreased by 0.9 gigawatts, while renewables increased by 1.1 gigawatts.
• Carbon dioxide emissions in 2023 decreased by 34% compared to 2022, to 9.7 million metric tons.
• In the telecommunications sector, PPC's FTTH (Fiber to the Home) network reached 140,000 households in Attica last year and 185,000 at the end of March 2024. The target in 2025 is to cover 1.7 million households and businesses. The commercial launch of the network will start in 2024, while investments of $680 million are planned in the sector over the three-year period 2024–2026.
• The General Assembly approved the spin-off of the wholesale telecommunications business and its contribution to the wholly owned subsidiary "Fibergrid.".

The General Meeting also approved the establishment of a new share buyback program for up to 10% of the share capital at prices ranging from EUR 2.48 (which is the nominal value of the share) to EUR 29 per share.

By a wide margin of 87 to 99.8%, the General Meeting approved the proposals.