Elliott Investment Management Calls on RWE to Increase Shareholder Returns

Dow Jones

Mar 24

By Adam Whittaker

Elliott Investment Management has called on RWE to significantly increase shareholder returns in a push to grow the Germany energy company's valuation.

The activist investor said Monday that it is disappointed with RWE's lack of clarity regarding its commitment to enhance shareholder returns.

Last week, the energy company said it would cut its investment program through to 2030 by 10 billion euros and introduce stricter investment criteria for new projects--a move welcomed by Elliott in Monday's release.

Elliott said the reduction in capital expenditure and RWE's persistent undervaluation offers a compelling opportunity to significantly increase and accelerate its continuing share-buyback program. It said it was looking forward to continuing dialogue with RWE's management.

In November, RWE said it would buy back 1.5 billion euros ($1.62 billion) of shares, adding last week that it expects this to be completed by the second quarter of 2026.

Monday's statement was made by Elliott Advisors--an affiliate of Elliott--which said it advises funds that together have an economic interest of close to 5% in RWE.

In early morning European trade, RWE's shares traded up 2.8% at 32.98 euros and it had a market cap of 23.87 billion euros.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

March 24, 2025 04:51 ET (08:51 GMT)

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