Hidroelectrica proposes to its shareholders dividends worth 1.28 billion lei, which would be approved at the General Assembly, convened for May 13.

“According to the individual financial statements prepared for 31.12.2020, in accordance with OMFP no. 2844/2016, the Company registers a net accounting profit of 1,451,575,383 lei.

The amount distributed to the legal reserve of 89,117,728 lei is determined based on the provisions of art. 183 of Law no. 31/1990 and represents the amount calculated from the annual accounting profit by applying a percentage of 5% on the accounting profit, before determining the profit tax, from which the non-taxable incomes are deducted and the expenses related to these non-taxable incomes are added, until it reaches the fifth part of the subscribed and paid-in share capital,” according to the call.

”The net profit remaining to be distributed after the establishment of the legal reserves to which is added the provision registered for the employees’ participation in the profit is in the amount of 1,304,244,708 lei,” it is shown in the document quoted by financialintelligence.ro.

Thus, the Ministry of Energy (with 80% of shares) would collect over 1 billion lei, and Fondul Proprietatea (with almost 20% of shares) – about 256.5 million lei.

Last year, the amount of electricity sold by Hidroelectrica from its own production reached 14.58 TWh, down 1.3% compared to 2019, while the total amount of electricity sold was 15.96 TWh, marking an increase of 0.7% compared to 2019, according to a report by Fondul Proprietatea.