Two Enel Romania Units To Pay Dividend Worth A Total EUR32.5M

05.20.2011 By Andrei Circhelan

Two of the three electricity distributors held by Italian Enel in Romania will pay dividends worth a total EUR32.5 million, namely 60% of the net profit achieved by the companies in 2010.

"The general shareholders meetings at Enel Distributie Banat and Enel Distributie Dobrogea recently approved the payment of dividend equivalent to 60% of the net result achieved in 2010," Enel said Friday in a news release.

Operating in Romania since 2005, Enel companies have only paid dividends in 2008 so far.

Enel Distributie Banat will pay dividend worth of RON83.56 million (EUR19.5 million), while Enel Distributie Dobrogea will pay dividend worth 56.15 million lei (EUR13 million).

Enel posted a net profit of EUR78 million in Romania last year.

Enel Investment Holding BV holds 51% in Enel Distributie Dobrogea and Enel Distributie Banat, while the remaining shares in both companies are almost evenly divided between Electrica and investment fund Fondul Proprietatea (FP.RO).

In Romania, Enel owns two supply companies, Enel Energie and Enel Energie Muntenia, and three power distributors, namely Enel Distributie Banat, Enel Distributie Dobrogea and Enel Distributie Muntenia. The Italian group is also active on the renewable energy sector, through Enel Green Power.

Enel has some 2.6 million clients in Romania, 93,000 km of network and 4,500 employees. The Italian group has invested more than EUR1.8 billion so far on the local market.