Romgaz and Nuclearelectrica, vital for Romania’s electricity and natural gas supply and with massive ongoing investment projects, will be exempted from the obligation imposed in January by the Government on all state-owned companies in excess, by emergency ordinance, to distribute this year dividends in the amount of at least 90% of the accounting profit for 2021 remaining after deducting the profit tax, reveals data analyzed by Profit.ro.

The January GEO stipulates that “In duly justified cases, the Government may approve by decision the distribution to the state budget, in the form of payments to the state budget in the case of autonomous utilities, or in the form of dividends in the case of companies with majority or full capital, of a quota less than 90% of the accounting profit remaining after deducting the profit tax, but not less than 50% of it.”

Romgaz’s net profit for last year was of 1.9 billion lei, and Nuclearelectrica’s – of 1 billion lei. The executive intends to approve in the case of both companies the distribution of dividends in the percentage of only 50% of the profit, in order to leave them investment money.

The Romanian state, through the Ministry of Energy, owns over 70% of Romgaz’s shares and more than 82% of Nuclearelectrica’s capital.