Siemens Energy Dividend Proposal for 2024 Fiscal Year

MUNICH (Reuters) – Siemens (ETR:SIEGn) Energy has not proposed a dividend for the 2024 fiscal year, citing limitations to its payout policy due to project guarantees secured last year, backed by the German government.

Last year, Berlin supported Siemens Energy with guarantees worth €7.5 billion (approximately $8 billion) as part of a deal with other stakeholders, aimed at assisting the troubled energy company in fulfilling its order book.

These guarantees are part of a larger package totaling €15 billion, agreed upon with private banks and other stakeholders. This agreement also includes a temporary suspension on dividends and increased bonuses at Siemens Energy, as indicated by the economy ministry at that time.

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