The managing board of Nuclearelectrica, the state-controlled company that operates the Cernavoda nuclear plant, proposed to distribute as dividends RON 596 mln (EUR 12 mln), or nearly 60% of last year’s net profit, Profit.ro reported.

The Government, which holds 82.5% of Nuclearelectrica, recently allowed the company - along with Romgaz - to retain up to 50% of the net profit to finance investments, waiving for these two companies the mandatory 90% dividend payout ratio set for state-controlled companies.

For the current market price, the dividend set by Nuclearelkectrica’s managing board would generate a yield of 4.5%.

The company’s shares inched up by 1.9% after the note to investors was released on March 28. The market capitalisation of the company was, consequently, RON 12.9 bln (EUR 2.6 bln). 

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andrei@romania-insider.com