Romanian state-owned gas producer gives EUR 223 mln dividends

Romanian state-owned gas and electricity producer Romgaz will give dividends of RON 1 billion (EUR 223 million) this year. The dividend yield will be of 11.3%, almost 8.7 times bigger than the annual average yield for a bank deposit, which amounts to 1.3%. After dividend distribution, the Romanian state, which is the majority owner, will receive EUR 162.8 million. The state owns a stake of 70% in the company via the Ministry of Energy. Romgaz posted a net profit of EUR 266 million last year, down 15% compared to 2014. The company has a capitalization of over EUR 2 billion on the Bucharest Stock Exchange. editor@romania-insider.com