AES Panama pays US$12.1 million in dividends to Panamanian State

RIO DE JANEIRO, BRAZIL – Two checks were received by Vice Minister of Finance Jorge Almengor from the hands of AES Panama’s CEO Miguel Bolinaga, the Ministry of Economy and Finance (MEF) reported.

“The dividends paid complement the income received by the State from the joint ventures, and the same reflect these companies’ commitment to the country,” the official announcement stated.

In this respect, AES Panama’s CEO emphasized that “with this contribution the company has reached US$900 million in the 22 years it has been in the country, a sum that has been transferred to the National Treasury,” the MEF communiqué said.

The Panamanian State, with stakes in a dozen joint ventures, has a 50.4% shareholding in AES Panama, according to official data.

In Panama, U.S. AES operates AES Panama, AES Changuinola and AES Colón, the latter a project for the generation of energy with liquefied natural gas.

AES Colón, the first liquefied natural gas (LNG) power generation plant in Central America, was inaugurated in August 2018 and Bolinaga at the time said that U.S. AES totaled investments of close to US$2.6 billion in Panama in nearly two decades.