The Romanian Government, as a majority (80%) shareholder of Hidroelectrica, approved the RON 1.3 bln (EUR 260 mln) dividend proposed by the company’s management as well as the RON 1 bln (EUR 200 mln) extraordinary dividend proposed by the minority shareholder Fondul Proprietatea, Ziarul Financiar reported.

Last year, the company posted RON 1.45 bln (EUR 290 mln) net profit, but it envisages major investments in renewable energy resources.

As a result of the shareholders’ decision, Fondul Proprietatea will 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 will get just over RON 1 bln (EUR 206 mln), plus RON 800 mln (EUR 160 mln).

The ministry of Energy estimates to cash RON 2.5 bln (EUR 500 mln) in dividends and interest plus another RON 836 mln (EUR 170 mln) from the sale of a stake in Rompetrol Rafinare refinery. 

andrei@romania-insider.com

(Photo source: Facebook/Hidroelectrica)