By Pietro Lombardi

EDP-Energias de Portugal SA said Wednesday that its fourth-quarter net profit rose sharply despite a decline in revenue.

The Portuguese energy company said quarterly net profit was 378 million euros ($459.3 million) compared with EUR51 million a year earlier.

Revenue fell 13% to EUR3.39 billion.

The company said it would propose a dividend of EUR0.19 a share for 2020, in line with the previous year.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

February 24, 2021 12:07 ET (17:07 GMT)

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