Hidroelectrica to distribute entire 2020 profit as dividends after taking major “green loan”

Romanian state-controlled hydropower group Hidroelectrica will distribute as dividends its entire 2020 profit minus the legal reserves if the shareholders approve the plan, Economica.netreports.

Thus, the total dividends would amount to RON 1.28 billion (EUR 260 million) out of the RON 1.45 bln net profit reported last year.

The state would get just over RON 1 bln (over EUR 200 mln) as the owner of an 80% stake in the company. Fondul Proprietatea (FP), the other shareholder, would get RON 256 mln (over EUR 50 mln) for its 20% stake.

Hidroelectrica recently announced that it took a seven-year loan worth RON 1.25 billion (EUR 250 mln) from BRD - Societe Generale - dubbed as the biggest "green loan" in Romania since the company plans to use it for investments in generation capacities based on renewable resources. BRD didn't mention the interest rate.

(Photo: Hidroelectrica Facebook Page)