Romanian power producer’s shareholders approve additional dividends

15 September 2017

Power producer Hidroelectrica’s shareholders agreed yesterday that the company should pay additional dividends worth RON 655 million (EUR 142.4 million), according to a document published on the company’s website.

The state has an 80% stake in Hidroelectrica through the Energy Ministry, so it will get the largest bulk.

Hidroelectrica already paid dividends worth RON 1 billion (EUR 225 million) in July from its last year’s profit. However, the Government has recently asked several of the most profitable state-owned companies, including Hidroelectrica, to pay additional dividends. The Government needs more money to cover its current expenses after increasing public sector wages.

Hidroelectrica recorded a gross profit of RON 971.8 million (EUR 211.3 million) in the first seven months of this year, up 6% year-on-year.

editor@romania-insider.com

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Romanian power producer’s shareholders approve additional dividends

15 September 2017

Power producer Hidroelectrica’s shareholders agreed yesterday that the company should pay additional dividends worth RON 655 million (EUR 142.4 million), according to a document published on the company’s website.

The state has an 80% stake in Hidroelectrica through the Energy Ministry, so it will get the largest bulk.

Hidroelectrica already paid dividends worth RON 1 billion (EUR 225 million) in July from its last year’s profit. However, the Government has recently asked several of the most profitable state-owned companies, including Hidroelectrica, to pay additional dividends. The Government needs more money to cover its current expenses after increasing public sector wages.

Hidroelectrica recorded a gross profit of RON 971.8 million (EUR 211.3 million) in the first seven months of this year, up 6% year-on-year.

editor@romania-insider.com

Normal
 

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