Romanian gas producer Romgaz announces 9% dividend yield

Romanian state-owned gas and electricity producer Romgaz Medias (SNG) has proposed its shareholders dividends worth EUR 273.1 million, namely 84.6% of last year’s net profit. The gross dividend per share would amount to RON 3.15 (EUR 0.7), with a 9.5% yield based on the stock price last Thursday. Romgaz recorded last year a EUR 322 million profit, up 44% compared to 2013, whereas its turnover increased by 15.3% to EUR 1.01 billion. Last year, Romgaz distributed dividends worth EUR 223 million, down 7.1% on 2013. These represented 99.5% of its net profit. The state has a 70% stake in Romgaz, whereas Romanian investment fund Fondul Proprietatea (FP) has a 10% stake. editor@romania-insider.com