Romanian state reaches to its richest companies for extra dividends

State-controlled Hidroelectrica, the biggest electricity producer in Romania, may distribute RON 550 million (EUR 118 million) worth of extra dividends this year, at the state’s request. The Energy Ministry, which holds 80% of the company’s shares, will thus get RON 440 million (EUR 94.4 million), local Profit.ro reported. The remaining RON 110 million (EUR 23.6 million) will go to Fondul Proprietatea, which holds a 20% stake in the company. The government has reached to the richest companies in its portfolio to pay additional dividends by the end of this year, on top of those already distributed from the 2017 net profits. The list includes Romgaz, Transgaz, Transelectrica and Nuclearelectrica. The government needs the money to increase revenues and reduce the budget deficit. Romanian state-owned gas producer pays extra dividends from reserves editor@romania-insider.com