Hidroelectrica will pay additional dividends of 1 billion lei

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Hidroelectrica is, for the moment, the only large state-owned company forced to pay additional dividends. All the other energy companies have declared for energynomics.ro that, for the moment, the state has not asked for extra dividends.

The shareholders of Hidroelectrica decided at the GMS meeting on Friday to ask the company to distribute additional dividends to shareholders worth 1 billion lei, from the company’s reserves. Three days ago, in another meeting of the GMS, the shareholders rejected the granting of additional dividends, but the amount was slightly higher – of 1.25 billion lei.

Johan Meyer, the head of Fondul Proprietatea, previously told energynomics.ro that Hidroelectrica sits on a mountain of cash reserves and although it has not fulfilled its investments, the additional dividends cannot affect the smooth running of the activity or future investment plans.

”Hidroelectrica has a cash reserve of 2.5 billion lei and generates another 100 million lei every month. The investment plan is not close to completion,” Meyer told us.

The sums are granted to the shareholders in proportion to the number of shares each holds. At Hidroelectrica, the state is 80% shareholder, while Fondul Proprietatea has 20%. A day ago, the state rejected granting additional dividends worth 512 million lei to Nuclearelectrica, according to Hotnews.ro.

It remains to be seen how much the companies will need to distribute from the profit for 2019, the decision to be taken by the Government early next year.

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Bogdan Tudorache

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