Siemens Energy can resume dividend payments early as restrictions lifted

BERLIN (Reuters) -The German parliament's budget committee has lifted Siemens Energy's dividend restriction a year earlier than planned, allowing the company to resume payouts to shareholders for the fiscal year 2025, the company said on Wednesday.

The restriction, tied to a government-backed funding facility that was put in place in 2023 to stabilise the power equipment maker, was initially set to end after fiscal year 2026.

The restriction's early removal comes after Siemens Energy replaced the 11-billion-euro facility in June, which terminated the government's guarantee facility, the company said in a statement.

Siemens Energy has a dividend policy of distributing 40% to 60% of net income attributable to its shareholders.

A decision on whether to propose a dividend payout for fiscal year 2025 is expected in November, the company said.

(Reporting by Kirsti Knolle, Editing by Miranda Murray)