Romanian natural gas transmission system operator Transgaz will pay to its shareholders dividend from last year’s profit in the amount of 9.73 euros/share instead of 5.41 euros/share proposed by the company’s management. The total dividend payout will amount to some 115 million euros, representing 90 % of Transgaz’ profit in 2017.
In March, Transgaz’ Board of Directors 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 Transgaz distributes dividends 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