Romanian state-controlled natural gas producer Romgaz is the first blue-chip company on the Bucharest Stock Exchange that has had its 2019 dividends approved by the shareholders.

The company will pay a gross dividend of RON 1.61 per share, resulting in a yield of 5.8% based on the latest share price (RON 27.75).

In addition to last year's net profit, the company will also distribute to shareholders part of its reserves accumulated in the previous years.

The total sum to be distributed to shareholders amounts to RON 620 mln (EUR 128 mln). The Romanian state, which holds 70% of the company's shares, will get almost EUR 90 mln. The remaining EUR 38 mln will be split among the minority shareholders, which include private pension funds, and other local investment funds.

The dividends will be paid as of July 24 to shareholders registered as of July 3.

editor@romania-insider.com

(Photo source: Facebook/Romgaz)