The Romanian state received a record amount in dividends last year from the energy companies in which it has a stake via the Energy Ministry.

The dividends amounted to RON 2.48 billion (EUR 543.5 million), up 58% over 2015, reports Economica.net.

Gas producer Romgaz, in which the state has a stake of 70%, paid dividends of RON 1.03 billion (EUR 225 million) from a profit of RON 1.02 billion. Power producer Hidroelectrica ranked second, with dividends of RON 829 million (EUR 181 million) of a total profit of RON 4.48 billion (almost EUR 1 billion). The state has a stake of 80% in Hidroelectrica.

OMV Petrom, in which the state still has a 20% stake, paid dividends of RON 175 million (EUR 38.3 million) from a profit of RON 1.03 billion (EUR 225 million) recorded in 2016. Electrica ranked fourth, with dividends of RON 125 million (EUR 27.3 million) out of a total profit of RON 265 million (EUR 58 million).

At the beginning of this year the state has asked state-owned companies to transfer some 90% of their net profits from last year to their shareholders.

editor@romania-insider.com