Fondul Proprietatea wants to squeeze more dividends out of Hidroelectrica
Fondul Proprietatea (FP), a minority shareholder (20%) in the Romanian state-controlled energy group Hidroelectrica - the largest electricity producer in Romania, will request the distribution of RON 1 billion (EUR 200 mln) supplementary dividends from the company's retained earnings and revaluation account, Ziarul Financiar reported.
Hidroelectrica announced that in the general shareholder meeting (GSM) of May 13, 2021, the two shareholders, the Ministry of Energy with 80% and Fondul Proprietatea with 20%, will vote the Fund's request for the payment of additional dividends.
If approved, these would come on top of the RON 1.3 bln (EUR 260 mln) dividends proposed by Hidroelectrica's management and accounting for 90% of last year's RON 1.39 bln net profit.
Fondul Proprietatea would receive RON 250 mln (EUR 42 mln) in ordinary dividends and another RON 200 mln (EUR 40 mln) in supplementary dividends.
Meanwhile, the Romanian state would get just over RON 1 bln (EUR 206 mln), plus RON 800 mln (EUR 160 mln).
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