Johan Meyer, CEO of fund administrator Franklin Templeton Investments Services and FP portfolio manager, said Thursday external factors such as the controversial tax decree forcing Hidroelectrica to sell part of its output at regulated prices, which will chip away at its profit, have deterred potential investors.
Hidroelectrica had a record net profit of RON1.55 billion in 2018, up 13.9% on the year, according to unaudited results published in the annual earnings report of Fondul Proprietatea.
Fondul Proprietatea shareholders decided Thursday to distribute a gross dividend of RON0.0903 per share, the equivalent of a 9.87% yield based on the share price of March 29. FP will distribute total dividends of RON654.85 million on July 1.