While Fondul Proprietatea is trying to sell the last minority stakes in the Electrica subsidiaries, it announces a gross dividend of 0.7415 lei per share, according to a report sent to the Bucharest Stock Exchange.

“The gross dividend is 0.7415 lei per share and the related dividend tax will be withheld at source in the quotas provided by the law, as the case may be,” the report states.

The increase in the cost of purchased energy by 25%, to 952 million lei, led to net losses of 51 million lei in the first quarter (Q1) of this year, compared to a positive result of 142 million lei obtained in the similar period of 2016.

Revenues were of about 4.8% smaller in national currency, at 1.44 billion lei (319.4 million euro) in Q1, 2017, as compared to 1.52 billion lei (337.7 million euro) in Q1, 2016 (in real terms the difference is broader, of 5.4%), while the cost of purchasing energy on the stock exchange rose 25% to 952 million lei, during Q1 of 2017.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.