The managing board of Romanian natural gas producer Romgaz, on March 25, approved the distribution of a gross dividend of RON 4.17 per share, out of which RON 3.15 from the profit achieved in 2018, RON 0.08 from retained earnings, and RON 0.94 from reserves funds (according to Government Emergency Ordinance no.114/2018).

The dividend yield would thus amount to 13%, considering the current price of the company’s shares. The shareholders will discuss the proposal in the general meeting on April 25.

The total dividends, according to the 2018 profit distribution proposal, amount to RON 1.21 billion (EUR 254 million) plus another RON 30.8 million from past years’ profits.

According to the announcement, dividends due to shareholders, according to art. 43 of GEO no.114 / 2018 (that stipulates the disbursement as dividends of 35% of reserves funds that are not committed as investments) are RON 362 million (EUR 76 million).

The Romanian natural gas producer reported a net profit of RON 1.4 billion (EUR 300 million) in 2018, down from RON 1.6 billion in 2017.

editor@romania-insider.com

(Photo source: Facebook / Romgaz)