Companhia Energética de Minas Gerais (NYSE:CIG) Q3 2023 Earnings Call Transcript

But in considering the investments that we have planned for next years, we will get to a better and more efficient leverage. We understand that it’s close to 2.5 times our EBITDA. So this is what we plan. Of course, the corporate environment is very dynamic, but today we understand that maintaining the 50% payoff, this is a very attractive dividend, very few companies from the electric sector pay a yield close to 8% to 9% as Cemig does today. And we understand that maintaining this policy and investing in low risk and profitable assets, we’ll be meeting the strategic objectives and create value to our shareholders. Basically, that’s it that we would like to execute. Another related action, if we couldn’t be updating the amount of the dividends or shortening the payment terms, well, we have been going to the market frequently for fundings that may turn this investments program feasible.

That’s why right now this is going to be our policy. We understand this is attractive and we believe that the balance that we have today, doing attractive dividends, 50% of payout which is in our bylaws and that’s what we pay, plus investments program will be a winning strategy for our company and will create value for our shareholders.

Carolina Senna: Thank you very much, Leonardo. We have no other questions. I will turn the floor to the operator to conclude the call.

Operator: If there are no further questions, we end the Q&A session. And now I would like to turn the floor to the CFO and IR Officer Leonardo George de Magalhaes, for the final remarks from the company.

Leonardo George de Magalhaes: Once again, thank you very much for being here with us in this earnings video conference call, with another quarter, bringing consistent results. This allows us to be very optimistic about the company’s future. Future, we are very much focused in our operating efficiency, to improve our efficiency even more. We are higher than our regulatory benchmarks, so we also want to invest in assets that will generate value for our shareholders. We will divest in stakes, as has been mentioned — in stakes where we have no control over the assets. So in Taesa, Alianca or Belo Monte. So we are no longer interested in those. So we want to sell them. So we thank you very much for your participation and our IR division will be available to take any other questions or comments that you might have.

We do believe these are very good results and we believe that for 2023 we will see very good results at the end and very attractive results for the company. Thank you all very much.

Operator: Earnings video conference call for the third quarter of 2023 for Cemig’s ended. The IR department is available to take further questions that you might have. Thank you all very much for your participation, and have a nice afternoon.