“Approval of the distribution as dividends of the amount of RON 1,000,000,000 from retained earnings (special dividend), representing surplus realized from revaluation reserves, as well as the gross dividend per share of RON 2.223197, in accordance with the Substantiation Note presented to the shareholders,” the convening notice reads.
The Romanian government will be getting nearly RON800 million of this, considering the Energy Ministry owns a 80.05% stake in the company. The remaining of almost RON200 million will go to stock market investors, who jointly own almost 20% in the company from the July 2023 listing.
“Approval of 9 September 2026 as the Record Date, i.e. the date on which the shareholders affected by the resolutions of the Ordinary General Meeting of Shareholders of S.P.E.E.H. Hidroelectrica S.A., including the right to receive dividends, will be identified, in accordance with Art. 87 of Law no. 24/2017 on issuers of financial instruments and market operations, republished. 4. Approval of 8 September 2026 as the Ex-Date, respectively the date prior to the Record Date on which the financial instruments subject to the resolutions of the corporate bodies are traded without the right to the special dividend referred to in item 2, in accordance with the provisions of ASF Regulation no. 5/2018 on issuers of financial instruments and market operations. 5. Approval of 30 September 2026 as the Payment Date of the special dividend,” the convening notice of the special dividend calendar shows.
The distribution of the special dividend is separate from the usual dividend distribution from the 2025 net profit, which will be put to a vote at the general meeting of shareholders due on April 28, 2026. Shareholders are expected to discuss approving dividends worth RON3.3 billion — almost entirely from the 2025 net profit —with a gross dividend of RON7.35 per share and June 25, 2026 as payment date. Of the RON3.3 billion amount, the Romanian government is set to cash roughly RON2.64 billion.
Considering the two dividend distributions, namely, the regular dividend of RON3.3 billion and the special dividend of RON1 billion, Hidroelectrica is set to pay out roughly RON4.3 billion to its shareholders in 2026. The Romanian State will cash a total of approximately RON3.44 billion, which will go into the energy ministry’s budget.
Hidroelectrica’s bourse capitalization has recently exceeded RON70 billion (EUR14 billion) after its shares hit an all-time high of RON160 per unit, making it the most valuable company on the Romanian capital market and placing it ahead of OMV Petrom.
Hidroelectrica posted RON3.37 billion net profit in 2025, 20% lower year-on-year, due to the severe drought and the lowest hydropower production in Romania ever. Revenue stood at RON9.61 billion, an increase of 5%.