The shareholders of Romanian natural gas transmission system Transgaz will decide on 7 June whether the company will distribute 50 % or 90 % of its last year’s profit as dividends.
In March, Transgaz’ Board of Directors previously proposed the distribution of only half of the net profit from 2017 to its shareholders, namely a dividend per share in the amount of 5.4 euros, which translates into a yield of 6 %, based on the share price of 88.5 euros. However, the Ministry of Energy has proposed that natural gas transmission system operator Transgaz distributes dividends worth some 115 million euros, representing 90 % of the last year’s profit, in accordance to its decision that all state-owned companies have to allocate at least 90 % of their profit from 2017 to dividends or payments to their shareholders.
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Tags: dividend, financial, gas, Romania, Transgaz