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Italy's Terna to invest 6 bln euros to 2016
March 20, 2012 / 9:53 AM / 6 years ago

Italy's Terna to invest 6 bln euros to 2016

MILAN, March 20 (Reuters) - Italian power grid company Terna said on Tuesday it intends to invest an overall 6 billion euros ($7.95 billion) in the period to 2016 as it focuses greater attention on non-traditional business.

In a statement on its 2012-2016 business plan, Terna said it will spend 4.1 billion euros on developing Italy’s power grid and 1.9 billion euros on other businesses.

Terna, Europe’s biggest independent power grid operator, said it will offer a base dividend, as of 2012, of 0.19 euros per share. On top of that it will offer a payout of 60 percent from the results or capital gains from its non-traditional business.

In its previous plan Terna had said it expected its dividend to grow 4 percent per year to 2015.

The company said it will pay a dividend on 2011 results of 0.23 euros per share. ($1 = 0.7552 euros) (Reporting By Stephen Jewkes)

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