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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

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Romanian gas producer Romgaz’s shareholders agree to 5.5% dividend yield this year

The shareholders of Romanian state-controlled gas producer Romgaz (SNG) approved the distribution of RON 690 million (EUR 140 mln) as dividends, an amount financed from last year's profit and the retained earnings account, according to a company's note to investors.

The dividend payout ratio is not much higher than 50%, which leaves resources in the company's reserves account in the view of ambitious investments related to Neptun Deep offshore project, among others.

In 2020, Romgaz reported a preliminary net profit of RON 1.25 bln, 15.1% higher than in 2019, given that its expenditures fell faster than the revenues. The dividend per share was thus set at RON 1.79, which resulted in a gross yield of about 5.5%, based on the closing price on April 28 (RON 32.55 per share).

To receive dividends, investors must hold Romgaz shares on June 8, with payments due June 30.

The Romanian state, through the Energy Ministry, owns 70% of the gas producer, which means that the gross amount due to the state from the dividends approved by the shareholders is almost RON 483 mln (nearly EUR 100 mln).

The market capitalization of the natural gas producer amounts to about RON 12.5 bln (EUR 2.5 bln). Romgaz's shares are up 15.8% this year, in line with the BET index's 16.2% growth.

andrei@romania-insider.com

(Photo source: Facebook/Romgaz)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

Romanian gas producer Romgaz’s shareholders agree to 5.5% dividend yield this year

The shareholders of Romanian state-controlled gas producer Romgaz (SNG) approved the distribution of RON 690 million (EUR 140 mln) as dividends, an amount financed from last year's profit and the retained earnings account, according to a company's note to investors.

The dividend payout ratio is not much higher than 50%, which leaves resources in the company's reserves account in the view of ambitious investments related to Neptun Deep offshore project, among others.

In 2020, Romgaz reported a preliminary net profit of RON 1.25 bln, 15.1% higher than in 2019, given that its expenditures fell faster than the revenues. The dividend per share was thus set at RON 1.79, which resulted in a gross yield of about 5.5%, based on the closing price on April 28 (RON 32.55 per share).

To receive dividends, investors must hold Romgaz shares on June 8, with payments due June 30.

The Romanian state, through the Energy Ministry, owns 70% of the gas producer, which means that the gross amount due to the state from the dividends approved by the shareholders is almost RON 483 mln (nearly EUR 100 mln).

The market capitalization of the natural gas producer amounts to about RON 12.5 bln (EUR 2.5 bln). Romgaz's shares are up 15.8% this year, in line with the BET index's 16.2% growth.

andrei@romania-insider.com

(Photo source: Facebook/Romgaz)

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