Finanţe: Provocările viitorului (Nov 2013)

Practices of Dividend Policies Adopted by Energy and Utilities Companies Listed on the BSE

  • Dorel Berceanu,
  • Nicolae Sichigea

Journal volume & issue
Vol. 1, no. 15
pp. 31 – 39


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This paper aims to highlight how dividend practices are implemented by major energy and utility companies listed on the Bucharest Stock Exchange. The analyzed sector is of particular importance due to the fact that the firms in this category are always in the attention of investors, knowing that the obtained profits are quite consistent. In addition, for three of the five surveyed companies, the state is the majority shareholder and for the fourth, SNP, it still has a significant package. Therefore, it is interesting to see to what extent the majority and minority shareholders' interests are harmonized, given that the dividend decision is also a means of selecting the shareholder.