The management of the Romanian state-controlled Hidroelectrica power group wants to distribute to its two shareholders - the Romanian state (80%) and FP (20%) some RON 2.8 bln (EUR 560 mln) from last year’s net profit of RON 3 bln.

Fondul Proprietatea (FP), however, is asking for RON 1 bln (EUR 200 mln) more, in the form of special dividends from the company’s retained earnings, Ziarul Financiar reported.

The fund also wants the special dividends to be paid by September 30, 2022.

Fondul Proprietatea wants to carry out an IPO and sell the largest part of its stake by the end of the year.

The general shareholders’ meeting in which the state’s representatives will decide whether to accept the fund's request will take place on April 28, 2022.

(Photo: Hidroelectrica Facebook Page)

andrei@romania-insider.com