Axia Energia approves extra BRL 4 billion for share redemptions

The board of directors of Axia Energia approved an additional capital allocation of BRL 4 billion for redemption operations of Class C preferred shares. The company announced the decision on Friday, September 25.

This extra amount joins the up to BRL 7.7 billion approved based on first and second quarter results. In total, capital allocable to shareholders reaches up to BRL 11.7 billion.

The company stated that the approved amount serves as a budget forecast under its capital allocation methodology. It does not represent an obligation, commitment, or guarantee that the redemptions will occur. Axia noted in a statement that the move aligns with its financial discipline, shareholder value creation, and investment capacity.

Earlier in the week, the company, formerly known as Eletrobras, announced its fourth redemption operation for Class C preferred shares. That plan allocated BRL 3.9 billion to shareholders who preferred cash over common shares.