The approval of the dividend was included on the agenda of Shareholders’ Ordinary General Assembly of June 22.
Relative to the current trading price of one TEL share on the stock market, the dividend proposed ensured a 2.3% yield.
On April 28, 2021, Transelectrica shareholders, in particular the Romanian State, rejected the dividend proposal of RON0.814 per share, from the 2020 profit and from retained earnings.
Transelectrica ended 2020 with an accounting profit left after the deduction of the profit tax of RON144 million, of which, upon covering legal reserves and other reserves, the profit remaining to be distributed is RON43.9 million. Per the request of the majority holder, in the end, the amount distributed to shareholders through dividends is RON43.2 million.
Transelectrica ended the first quarter of 2021 with total revenue of RON726 million, 20% higher than in the same period in 2020, and a net profit of nearly RON82 million, 6% higher than in the first three months of 2020.
Company representatives said that in the first quarter of 2021, Transelectrica accomplished 27% of the entire annual investment plan undertaken by its management for the whole year, respectively 88.4% of the value budgeted for the first three months. For 2021, the company targets an annual investment plan of over RON307 million.