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Stock Market & Financial Investment News

News Breaks
February 26, 2014
06:22 EDTAESAES Corp. reports Q4 adjusted EPS 29c, consensus 29c
Reports Q4 revenue $3.8B, consensus $5.45B
News For AES From The Last 14 Days
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December 15, 2014
16:32 EDTAESAES Corp. names Bernerd Da Santos as COO
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07:13 EDTAESAES Corp. agrees to sell minority interest in IPALCO Enterprises for $244M
The AES Corporation has entered into an agreement with La Caisse de dépôt et placement du Québec, a long-term institutional investor headquartered in Quebec, Canada. Pursuant to the agreement, CDPQ will purchase 15% of AES US Investments, Inc., a wholly-owned subsidiary of AES that owns 100% of IPALCO Enterprises, Inc, for $244M. In addition, CDPQ will invest approximately US$349 million in IPALCO through 2016, in exchange for a 17.65% equity stake, funding existing growth and environmental projects at Indianapolis Power & Light Company. After completion of these transactions, CDPQ’s direct and indirect interests in IPALCO will total 30%, AES will own 85% of AES US Investments, and AES US Investments will own 82.35% of IPALCO. There will be no change in management or operational control of AES US Investments or IPALCO as a result of these transactions. AES expects these transactions to be modestly accretive to Adjusted EPS based on reduced equity commitments from AES to fund existing growth and environmental projects at IPL and the initial cash investment by CDPQ, which AES will invest in line with its stated capital allocation framework. Subject to customary regulatory approvals, including from the Federal Energy Regulatory Commission and the Committee on Foreign Investments in the United States, these transactions are expected to close in first half 2015.
07:06 EDTAESAES Corp. raises quarterly dividend to 10c per share from 5c
The Board of Directors of The AES Corporation approved a 100% increase in the company’s quarterly common stock dividend, to 10c per share from 5c per share. The Board of Directors will continue to review the dividend on an annual basis. The company expects the dividend to grow at an approximate 10% annual rate, consistent with Parent Free Cash Flow growth of 10% to 15% per year on average through 2018. The Board of Directors declared a quarterly common stock dividend of 10c per share payable on February 17, 2015, to shareholders of record at the close of business on February 3, 2015.

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