The company plans to pay 1.6 billion euros in dividends to the state 2018-2030, including around 200 million euros in 2030 alone, according to the group's strategy approved by the Supervisory Board on Wednesday, the company informed by Nasdaq Vilnius stock exchange.
"One of the most advanced state capital companies in Lithuania is undertaking major development and presents specific steps to achieve it. Innovations, renewable energy and the green economy are our directions for the future," Finance Minister Vilius Sapoka said in a statement.
Lietuvos Energija's investment (CAPEX) will amount to 6.2 billion euros over the above-mentioned period, with 45% spent on green generation capacities and 39% on the distribution network. Two thirds of the amount will be invested in Vilnius, with the remaining part invested abroad.
"We will expand not only in Lithuania and conquer new energy activity areas in the closest countries, followed by the rest of Europe. Half of what we will earn in twelve years will be earned by us on international markets and returned to Lithuania," Darius Maikstenas, chairman and CEO of Lietuvos Energija, said.
