The management of Transelectrica (TEL) proposes to its shareholders the distribution of a gross dividend of 2.228 lei for 2013, 5.5 times higher than that allocated in the previous year, the total amounted to 163.31 million lei (36.5 million euro).

The company recorded in 2013 a net profit of 200.92 million lei, 5.5 times higher than the 2012 earnings of 34.48 million lei. Last year`s profit is 23.8% larger than the previously announced preliminary result of 162.29 million lei.

Thus, shareholders would receive 81% of the 2013 earnings.

The proposed dividend for last year, of 2,228, is 5.5 times higher than that distributed the previous year, of 0,404 lei. The dividend yield reported at the last price of Tuesday on the stock exchange, of 15.67 lei/ share, is of 14.21%.

The state controls 58.68% of shares of Transelectrica, while Fondul Proprietatea holds a 13.49% stake. The remaining shares, of 27.81%, belong to other shareholders.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.