Romanian power producer Hidroelectrica to pay EUR 227 mln dividends

Power producer Hidroelectrica, one of the most valuable state-owned companies, will pay RON 1.035 billion (EUR 227 million) dividends from last year’s net profit, according to a shareholder decision. The dividends represent 90% of the distributable net profit for 2016, which amounted to RON 1.22 billion. The Energy Ministry, which holds the majority stake of 80% of Hidroelectrica’s shares will get RON 829 million worth of dividends while investment fund Fondul Proprietatea, which holds the remaining 20%, will get RON 206 million. Fondul Proprietatea had asked the company to distribute its whole net profit for dividends plus RON 1 billion from its reevaluation reserves. However, the state opposed this proposal. Romania’s Government won’t list Hidroelectrica on bourse this year editor@romania-insider.com