Greetings!
Earlier this week, Andrés Gluski, AES President and CEO, and Tom O'Flynn, AES EVP and CFO, hosted our Fourth Quarter and Full Year 2015 Financial Review for investors and analysts. We reported 2015 Proportional Free Cash Flow of US $1,241M and Adjusted Earnings Per Share of US $1.22. Our 2015 achievements included:
- Increased quarterly dividend by 10%, to US $0.11 per share, beginning in the first quarter of 2016
- Returned US $757M to shareholders through share repurchases and dividend payments
- Used US $345M to prepay or refinance Parent debt
- Brought on-line 1,484 MW of new projects, with an additional 5,620 MW currently under construction, the majority of which is expected to come on-line through 2018
- Advanced select platform expansion projects in the Philippines, Panama and California
Click here to read the press release and click here to listen to the earnings call.
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Dominican Power Partners combined cycle project more than 60% complete
In the Dominican Republic, the Dominican Power Partners (DPP) combined cycle project is more than 60% complete since beginning construction in October 2014. This natural gas project will add 114 MW of clean efficient energy to the portfolio of the Dominican Republic.
The mechanical work for the project began recently after the installation of the heat recovery boilers in the first tower. All foundation work for the turbines and boilers has been completed as the team is now working on the cooling tower, the electric building and mechanical building. The combined cycle conversion aims to maximize the efficiency of the power generation units by taking advantage of the combustion gases from existing gas turbines. This new steam will increase existing power at Los Mina Power Plant by net 114 MW, adding up to 324 MW.
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Monthly Cybersecurity Message
When was the last time you changed your AES password, or any of your passwords for that matter? If you haven't yet updated your login credentials in 2016, it's time for a password refresh! As you may recall, selecting strong passwords is number one on our list of "Cyber Six" -the six most important behavioral takeaways from our Cyber Ninja Guide. While hackers have many tools available to crack passwords, you will make it more difficult for them to compromise your accounts by following these guidelines.
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AES Kazakhstan and AES Bulgaria MBLs elected to AmCham Executive Board
Serhiy Zuyev, AES Kazakhstan Market Business Leader, and Olivier Marquette, AES Bulgaria Market Business Leader, were recently elected to the Boards of the American Chamber of Commerce in their respective markets.
Serhiy was recently elected to the Executive Board of AmCham in Kazakhstan following an intensive elections process which ran throughout January 2016. Since the Board is elected by the members at large, this highlights the confidence for AES by the business community of foreign investors. AmCham in Kazakhstan was founded in Almaty in 1999 by a group of 35 US companies operating in the country. Today, the Chamber is comprised of more than 200 companies including Chevron, Shell, ExxonMobil, EBRD, Citibank and others.
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