Angola surpasses the US to become the second-largest recipient of dividends from Portugal, trailing only China.

Angolan shareholdings in companies listed on the Portuguese stock exchange will generate €219 million in dividends based on 2024 earnings, with distribution beginning in April. With this figure, Angola has surpassed the United States to become the second-largest recipient of dividends paid by listed Portuguese companies to foreign investors, trailing only China.

According to released data, listed Portuguese companies will distribute a total of approximately €2.9 billion in dividends for 2024. Angolan holdings account for 7.6% of this amount. China—driven largely by investments in EDP and REN—is expected to receive slightly over €500 million. The US ranks third, with approximately $158 million.

Sonangol accounts for the largest share of the Angolan dividends: €165.7 million, equivalent to 76% of the total the country is set to receive. Of this amount, €88.4 million comes from its stake in Millennium BCP, and €77.3 million from its indirect stake in Galp, held via Esperaza Holding (which controls 45% of Amorim Energia, a key shareholder in the oil company)...