The shareholders of Romanian energy supply and distribution company Electrica Group (BVB: EL), with the Romanian state as the largest owner, approved, in the Ordinary General Meeting on April 20, the distribution of RON 152.8 from the net profit of the financial year 2021 as dividends.

The gross dividend per share of RON 0.45 accounts to a 4.9% yield for the current market price.

Another RON 152.9 bln will be retained as reserves, and RON 16 mln should be retained as mandatory reserves.

Also, during the Extraordinary Meeting on the same day, Electrica's shareholders approved, with the majority of votes expressed, a ceiling of RON 900 mln for the bond issues of the company planned for 2022-2023.

The bond can be denominated in both local and foreign currencies. It will be issued on the Romanian capital market under a flexible structure, with a fixed or variable interest rate, through one or more separate issues, according to the terms endorsed by the company's shareholders. The maturity will be set at a maximum of seven years.

(Photo: Florin Brezeanu | Dreamstime.com)

andrei@romania-insider.com