The Anual Shareholder's Meeting of Latvenergo AS was held on 8 May 2020 at 12.00 at the premises of Latvenergo AS, Pulkveža Brieža Street 12, Riga. The Meeting was organised by using remote connection options.
The Shareholder's Meeting approved Latvenergo Consolidated and Latvenergo AS Annual Report for 2019, as well as passed a decision on disbursement of dividends to the state equal to 127.1 million EUR. The amount of dividends to be disbursed by Latvenergo AS to the state is stipulated by the Law on the Medium-Term Budgetary Framework for 2018, 2019 and 2020, which determines the amount of dividends to be paid into the state budget. The capital structure ratios and the financial position of Latvenergo Group do not restrict disbursement of the dividends.
The profit of Latvenergo AS in 2019 comprises 101.2 million EUR, whereas the profit of Latvenergo Group in 2019 comprises 94.4 million EUR.
Resolutions adopted at the Annual Shareholder's Meeting:
1. To approve Latvenergo konsolidēto un AS "Latvenergo" 2019.gada pārskatu, the financial statements are prepared in accordance with the International Financial Reporting Standards approved in the European Union;
2. To approve Latvenergo Consolidated and Latvenergo AS Annual Report for 2019, the financial statements are prepared in accordance with the International Financial Reporting Standards approved in the European Union;
3. To retain the annual profit of Latvenergo AS in 2019 equal to 101,227,154.00 EUR undistributed and transfer it into the retained earnings;
4. To pay out to the state in dividends 127,070,731.00 EUR from the retained earnings of Latvenergo AS in the previous years;
5. To appoint PricewaterhouseCoopers SIA as the auditor of annual statements of Latvenergo AS for 2020, determining the auditor's remuneration up to 45,300.00 EUR, excl. VAT.