Romania: Slightly lower dividend proposed at Nuclearelectrica

, SEE Energy News

The Romanian state is the largest shareholders in Nuclearelctrica, with 82.5 % stake. Romanian electricity producer Nuclearelectrica, the operator of the country’s sole nuclear power plant Cernavoda, plans to pay dividends totaling some 97 million euros from last year’s net profit. The proposed gross dividend per share is 0.32 euros and the dividend yield is 6.3 % based on yesterday’s closing price of 5.05 euros/share. The proposed dividend is 5 % lower than last year. despite the fact that the company’s net profit went up by 28 % in 2020, to some 140 million euros. The move is seen as the management’s intention to retain more funds in order to finance the future investments, which include refurbishing the first unit of NPP Cernavoda and the construction of two new units.