Romanian state-owned company to pay EUR 227 mln dividends

Romanian power producer Hidroelectrica, one of the most profitable state-owned companies, announced yesterday that it would pay full dividends totaling RON 1.035 billion (EUR 227 million) to its two shareholders for the 2016 financial year, reports local News.ro. The Energy Ministry has a stake of 80.05% in the company whereas Fondul Proprietatea has a stake of 19.94%. The company recorded a profit of RON 744 million (EUR 163.2 million) in the first five months of this year, up over the gross profit recorded during the same period last year. Its turnover amounted to RON 1.436 billion (EUR 315 million) in the first five months, up 11% year-on-year. Its production amounted to 6.5 TWh at the end of May this year, compared to 7 TWh recorded in the same period in 2016. New GM for Romanian state-owned power producer Hidroelectrica editor@romania-insider.com