The Romanian Government and investment fund Fondul Proprietatea, the shareholders of power producer Hidroelectrica, decided on Friday, December 20, that the company would pay RON 1 billion (EUR 210 million) worth of extra dividends, Hidroelectrica CEO Bogdan Badea told Ziarul Financiar. The Romanian state, which holds 80% of the company’s shares, will thus receive RON 800 mln (EUR 167 mln).

The decision came after the Romanian state rejected, on December 17, Fondul Proprietatea’s proposal for RON 1.25 bln worth of supplementary dividends.

"We had deposits in amount of RON 950 mln and we informed that we could not distribute RON 1.25 bln, as requested by Fondul Proprietatea," explained Bogdan Badea.

Fondul Proprietatea also asked for extra dividends from state-controlled power producer Nuclearelectrica, namely RON 512 mln (EUR 106 mln).

The two companies had already paid dividends from the 2018 profits, worth RON 713 mln (Hidroelectrica) and RON 380 mln (Nuclearelectrica).

editor@romania-insider.com

(Photo source: Pixabay.com)