Romania's Romgaz to distribute almost its entire 2013 profit via dividends

Shareholders in Romania’s gas producer Romgaz Medias approved dividends worth some EUR 222 million for last year, an amount 7 percent lower than the one granted for 2012. This year, shareholders will receive almost the entire 2013 profit as dividends – 99.5 percent of it. Last year’s profit for Romgaz – some EUR 225 million – was 20 percent below the 2012 level. The gross dividend per share will be of RON 2.5 (EUR 0.5), giving a yield of 7.4 percent. The current share price on the Bucharest Stock Exchange for Romgaz is of RON 34.3 (EUR 7.6). The Romanian state controls 70 percent in Romgaz, while Fondul Proprietatea has 15 percent of the shares. The remainder is free floating on the Bucharest Stock Exchange and on the London Stock Exchange. editor@romania-insider.com