Genesis Energy Limited ( (DE:1G6) ) has issued an announcement.
Genesis Energy has announced the issue price for shares under its Dividend Reinvestment Plan (DRP) at NZ$2.0971 per share, reflecting a 2.5% discount on the volume-weighted average sale price. Shareholders participating in the DRP will receive shares instead of cash for the dividend payable on April 10, 2025, with new shares ranking equally with existing shares. This move allows Genesis to retain capital within the company, potentially strengthening its financial position and offering shareholders a chance to increase their investment in the company.
More about Genesis Energy Limited
Genesis Energy is a diversified New Zealand energy company that sells electricity, reticulated natural gas, and LPG through its retail brands Genesis and Frank. It is one of New Zealand’s largest energy retailers with approximately 500,000 customers. The company generates electricity from a diverse portfolio of thermal and renewable generation assets across the country and holds a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis reported revenue of NZ$3.0 billion for the 12 months ending June 30, 2024.
YTD Price Performance: -1.79%
Average Trading Volume: 1,300
Technical Sentiment Signal: Buy
Current Market Cap: €1.24B
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