On Friday, Hidroelectrica’s shares went ex-date, with the share price decreasing by 8.8% by the end of the trading day, lower than the 10.9% DY at the share price before the announcement. The payment date is set for 28 June 2024.

Hidroelectrica, the newest (and one of the largest) additions to the Romanian BET index, went ex-date on Friday. As a reminder, this refers to the dividend that the Company approved at the end of April, in the amount of RON 13.99 per share. In total, this would amount to RON 6.29bn, representing 99% of the consolidated 2023 net profit.

At the share price before the announcement, this would imply a DY of 10.9%. By the end of the trading on Friday, the Company’s share price declined by 8.8%, meaning that the decrease was lower than the DY, implying heightened investor interest in the Company. The payment date is set for 28 June 2024.

Hidroelectrica, BET share price since Hidroelectrica’s IPO (July 2023 – 2024 YTD, %)

Source: Bloomberg, InterCapital Research