Portugal's EDP maintains capex of 9 billion euros despite coronavirus

LISBON (Reuters) - Portugal's biggest utility EDP said on Thursday it will maintain the same capex expenditure of 9 billion euros over the next three years despite the economic crisis caused by the coronavirus outbreak. Speaking at an online news conference, EDP Chief Executive Antonio Mexia said the company expected not to cut its dividend, keeping the payout ratio at 75%-85% of net income, with a floor of 0.19 euros per share.