Romanian power producer’s shareholders approve additional dividends
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