Romanian state seeks higher dividends from energy companies in which it holds minority stakes

Romanian state representatives want to get higher dividends from energy companies in which the state holds minority stakes, such as gas and electricity distribution companies, according to energy minister Razvan Nicolescu. “We want a more active role in the companies where the state is minority shareholder. We must follow the example of Fondul Proprietatea, which is very active in companies where it holds stakes. I informed my colleagues who run companies in which the state holds minority stakes, such as electricity and gas distribution companies, that a more consistent dialog is needed for dividend distribution,” Nicolescu said in an energy conference organized by Mediafax newswire. He mentioned that although these companies made high profits in recent years, dividend policies for some of them were “extremely unambitious”. Among the energy companies where the Romanian state still holds minority stakes are electricity distribution companies controlled by Italia group Enel (Enel Distributie Muntenia, Enel Distributie Banat and Enel Distributie Dobrogea), or by German group E.On (E.On Moldova Distributie), and gas distribution companies GDF Suez Energy Romania and E.On Gaz Distributie. The Romanian state alho holds a minority 20.6 percent stake in oil & gas company OMV Petrom, which paid some of the largest dividends in Romania in the last three years. Andrei Chirileasa, andrei@romania-insider.com