site.btaConstitutional Court Overturns Parliament's Decision to Withhold Dividends from Bulgarian Energy Holding

The Constitutional Court has overturned the National Assembly's decision to instruct the Minister of Energy and the Bulgarian Energy Holding (BEH) not to distribute dividends from BEH's 2023 profits, the Court announced on its website on Thursday.

With all eleven constitutional judges present, the decision was unanimous, and the National Assembly's decision was overturned.

The National Assembly resolved on March 29, 2024, that the Energy Minister should not distribute dividends from the profit of the Bulgarian Energy Holding (BEH) earned in the financial year 2023. The annual profit amounted to BGN 425 million, resulting from an after-tax profit of BGN 1,225 million, as written in the annual financial report, and dividends paid by BEH after a corrected Council of Ministers instruction for 2023.

The parliamentary resolution was moved by GERB UDF MPs Temenuzhka Petkova, Zhecho Stankov and Maria Belova. It was approved by 132 votes in favour and 43 against, with 12 abstentions.