Romania: Electrica’s 2020 dividend distribution

, SEE Energy News

For 2021, Electrica estimates for 2021 a consolidated net profit of some 40 million euros, down 48 % year-on-year) and total revenues of 1.4 billion euros, down 5.7 % year-on-year).

The shareholders of the Romanian electricity supplier and distributor Electrica agreed on the distribution of some 50 million euros in total as dividend from last year’s net profit. This represents a 5.4 % yield based on the current share value.

The shareholders have also elected four new members in its seven-seat Board of Directors. The Group’s Board members are Iulian Cristian Bosoanca, Gicu Iorga, Ion Cosmin Petrescu, Adrian Florin Lotrean, Radu Mircea Florescu, George Cristodorescu, and Dragos Valentin Neacsu.

Electrica recorded a net profit in the amount of some 80 million euros in 2020, which is by 87.5 % higher compared to the previous year. The group’s operating revenues increased 3.5 % year-on-year, reaching 1.33 billion euros in 2020, while its operating profit rose to 94.2 million euros from 48 million euros in 2019. On the other hand, its expenditures related to electricity and gas purchases rose only by 1.19 % to 800 million euros.