The shareholders of Romanian electricity distribution group Electrica, also active on the electricity and gas supply markets, decided in the general shareholder meeting on April 29 to approve the distribution of dividends worth RON 246.1 million (EUR 50 mln), namely 100% of the unconsolidated net profit.

The dividend yield is 7.2%, based on the current market capitalization of the company (RON 3.42 billion, or EUR 0.7 billion on April 29).

In 2019, the Electrica Group obtained a consolidated net profit of RON 207 million, 10.3% lower than in 2018.

The shareholders also approved the income and expenditure budget for the financial year 2020, and the annual financial statements for the financial year ended December 31, 2019.

Separately, local brokerage house Tradeville published a research report showing that the lower demand for electricity and the negative impact measures adopted by the Government during the state of emergency period affect Electrica's activity.

(Photo: Pixabay)

editor@romania-insider.com