Hidoelectrica, the largest electricity producer in Romania, will re-allocate 6.3 billion lei for dividends, i.e. almost all of the historical profit recorded by the company last year.
Hidroelectrica’s directorate has convened the Ordinary General Meeting of Shareholders for April 29, and on the agenda is also the proposal for the distribution of dividends to the company that was listed on the Bucharest Stock Exchange last year.
The directorate proposes the distribution of 6.29 billion lei in the form of dividends, given that the company’s net profit last year was 6.35 billion lei, most likely the highest recorded in Romania the previous year.
The gross dividend is therefore almost 14 lei for each share held, which will be received by both the Government and the shareholders who bought the company’s shares at last year’s listing. As the state owns 80% of Hidroelectrica’s shares, the budget will therefore receive 5.03 billion lei, i.e. one billion euros.
The amount allocated to the Legal Reserve is 0 RON, because in 2022 the maximum threshold of 20% of the share capital was reached, the company says. Almost 60 million lei were distributed to other reserves, as a result of the application of the reinvested profit facility, and 23.6 million means the participation of employees in the profit.
Hidroelectrica is the largest energy producer in Romania and provides essential technological services for the National Energy System. The company operates 187 power plants with a hydropower capacity of 6.3 GW and, in addition, owns a wind farm in Crucea, with an installed capacity of 108 MW.
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