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CMS again advises solar plant and wind farm operator Encavis on structuring and implementing a scrip dividend

08/07/2021

Frankfurt/Main – For the eighth time in a row, solar plant and wind farm operator Encavis AG of Hamburg has given its shareholders the choice of receiving the dividend in cash, in the form of new shares in the company or as a combination of both. This year’s cash dividend was EUR 0.28 per share. The acceptance rate for the scrip dividend was 42.9%, despite the turbulent times. The company will use the cash saving to drive forward its growth strategy.

A CMS team headed by lead partner Dr Andreas Zanner advised Encavis and DZ BANK AG on all legal aspects of structuring, implementing and settling the scrip dividend, with the latter acting as subscription and settlement agent. Encavis and DZ BANK have both relied on the expertise of CMS lawyers on a regular basis for many years. CMS is thus expanding its position as a market leader in providing legal advice on scrip dividends and how to structure them.

Encavis AG is listed on the MDAX of Deutsche Börse and is one of Europe’s leading independent electricity producers in the renewable energy field. It operates solar plants and (onshore) wind farms across ten European countries with a total output of over 28 GW.

CMS Germany

Dr Andreas Zanner, Lead and Client Relationship Partner, Frankfurt, Corporate Law
Patrick Damanik, Senior Associate, Frankfurt, Banking & Finance
Dr Richard Mayer-Uellner, Partner, Cologne, Corporate Law

Press Contact
presse@cms-hs.com

Related people

Portrait of
Patrick Damanik, LL.M.
Senior Associate
Frankfurt
Portrait ofRichard Mayer-Uellner
Dr. Richard Mayer-Uellner, LL.M. (University College London)
Partner
Cologne
Dr. Andreas Zanner