Hidroelektrane na Vrbasu, a subsidiary of power utility ERS, will pay 15 million euros of diviidends, from accumulated undistributed profits. That would be HEV’s first dividend payout since 2016. The gross dividend will amount to 0.14 euros per share.
The decision requires approval by the shareholders’ assembly, but there is no doubt that it will be approved, given that the proposal for profit distribution comes from the parent company ERS, which holds the majority of shares in (65 %).
Last year, HEV reported a profit of 2.8 million euros and revenues of 11.9 million euros. In the first quarter of 2023, a profit of 1.1 million euros has been reported.
