Uniper SE raises 2026 adjusted net‑income outlook and signals higher dividend

Uniper SE, the German‑based independent power and renewable electricity producer, announced on 4 November 2026 that it has increased its forecast for adjusted net income for the full 2026 fiscal year to a range of €550 million to €650 million, up from the previous range of €500 million to €600 million. The revision is based on preliminary results for the first nine months of the year, which showed an adjusted net income of €579 million compared with €268 million in the same period of the prior year. Adjusted EBITDA for the period was reported at €1.02 billion, up from €641 million in 2025, while the full‑year adjusted EBITDA outlook remains unchanged at €1.1 billion to €1.3 billion.

Dividend policy and upcoming 2027 dividend proposal

In an ad‑hoc disclosure on 6 November 2026, Uniper outlined its medium‑term dividend policy, which consists of two components. The policy is intended to guide future dividend payments. In the same announcement, the company stated that it intends to propose a dividend of €0.77 per share for the 2026 fiscal year at the 2027 general meeting. This higher dividend is part of a strategy to make the company more attractive to investors in the context of the German federal government’s plan to reduce its ownership stake in Uniper. The government aims to make the energy company more appealing for a potential reprivatisation by offering a higher dividend to investors.

Market context

Uniper’s share price as of 4 November 2026 closed at €42.90, within a 52‑week range of €28 to €56.20. The company’s market capitalisation stands at €20.16 billion, and its price‑earnings ratio is 11.02. The dividend proposal represents a significant increase in shareholder return relative to the current yield implied by the share price.

The announcements come as Uniper continues to operate a diversified portfolio of generation assets—including coal, gas, oil, combined gas‑and‑steam, hydroelectric, nuclear, biomass, photovoltaic, and wind plants—across Europe and internationally. The company also provides energy services and trades in energy commodities, and it manages gas storage and power‑to‑gas facilities in Germany, Austria, and the United Kingdom.

Uniper’s enhanced 2026 earnings outlook, coupled with a higher dividend policy, reflects the company’s intent to support shareholder value while navigating the broader European energy transition and the government’s planned divestiture.