Hidroelectrica to pay full dividends in 2016, amounting to RON 1.036 bln

Hidroelectrica will pay full dividends in 2016, amounting to RON 1.036 billion, to the two shareholders, the Ministry of Energy and Fondul Proprietatea, which will be distributed taking into account the share quota held, the company announced on Wednesday.

“In agreement with the Decision of the Ordinary General Meeting of Shareholders No. 7 dated 29 May 2017 approving the distribution of the profit based on the legal provisions in force, Hidroelectrica announces the full payment of dividends for the financial year 2016, totaling RON 1,035,686,137 to the two shareholders, distributed according to the shares held: Energy Ministry 80.056099777 percent and Fondul Proprietatea SA 19.943900223 percent,” Hidroelectrica said in a press release.

Hidroelectrica is the biggest electricity producer in the country and the main system service provider. Therefore, it is a company of strategic importance for Romania’s National Energy System. As such, it has a significant contribution to the capital of the two shareholders this year as well.

“Currently managed by a dualist system, a Supervisory Board and a Directorate whose main concern is sustainable development under conditions of economic efficiency, the company continues the series of exceptional financial results in 2017, reporting a profit of RON 744 million in the first 5 months of the year, 26 percent more than the gross profit recorded in the same period of 2016 “, Hidroelectrica said in a statement.