On Tuesday (April 27), Transelectrica shareholders rejected these issued on their agenda, as a result of an erroneous proposition regarding the distribution of profit.
Transelectrica shareholders, among which the Romanian State (58.7%), as well as pension funds and other investors, rejected on April 27 the proposal for a dividend of RON0.814 per share, from the 2020 profit and from retained earnings, which would have ensured a 3% yield.
Transelectrica targets total revenue of RON2.3 billion in 2021, similar with the level reported in 2020, and nearly 4% higher expenses, of RON2.29 billion, as a result of an increase in electricity acquisition prices, in stock-related costs and the necessary technology services for the safe functioning of the national power system, per the company’s budget approved by shareholders in their general meeting of April 29.
The company expects to deliver its consumers an amount of electricity of 55,140,000 MWh in 2021, higher by 1,290,589 MWh than the amount achieved in 2020. It also targets a gross profit of RON80.91 million, lower than RON87.8 million in 2020.
Transelectrica has a market value of RON1.9 billion. Its shares have been trading up 4.6% since the beginning of 2021, amid deals worth RON31 million.