Bulgaria: CEZ Electro wants to distribute 2020 dividend

, SEE Energy News

Last year, Bulgarian subsidiaries of Czech energy company CEZ – CEZ Electro and CEZ Distribution did not distribute dividends for 2019.

Electricity supplier CEZ Electro, a subsidiary of Czech energy company CEZ, said that it is planning to distribute a gross dividend from last year’s profit in the amount of 3,000 euros per share, totalling some 15 million euros. CEZ Electro recorded a net profit in the amount of 8.2 million euros in 2020, compared to a profit of 7.8 million euros in the same period last year. The company’s operating revenues rose to 342.2 million euros in 2020 period from 301.5 million euros in the same period in 2019. Operating expenditures also rose to 332.8 million euros from last year’s 292.7 million euros.

Earlier this month, Chairman of the Board of Directors of Eurohold Bulgaria Kiril Boshov said that the company expects to complete the acquisition of Bulgarian assets of Czech energy company CEZ in the first half of this year.