Romania: Hidroelectrica’s supplementary dividends

, SEE Energy News

Hidroelectrica recorded a net profit in the amount of 298 million euros in 2020, which is some 5 % more compared to the previous year. Thus, Hidroelectrica surpassed oil and gas producer OMV Petrom as Romania’s most profitable company.

Romanian private investment fund Fondul Proprietatea (FP), a minority shareholder (20%) in the country’s largest electricity producer Hidroelectrica, will request the distribution of some 200 million euros in supplementary dividends from the company’s retained earnings and revaluation account.

This proposal will be voted on at the next general shareholders’ meeting scheduled for 13 May. If approved, these would come on top of 260 million euros in dividends proposed by Hidroelectrica’s management and accounts for 90 % of last year’s net profit. Thus, FP would receive 42 million euros in ordinary dividends and another 40 million euros in supplementary dividends. The Romanian state, with the remaining 80 % stake, would get over 200 million euros, plus 160 million euros in supplementary dividends.