Transgaz Mediaş (TGN) proposes its shareholders dividends amounting to almost 207 million lei (46.2 million euro), 17% below those paid last year, the amount representing about 60% of the net profit obtained last year by the company, of 334.5 million lei (75.7 million euro).
Shareholders would collect a gross dividend of 17.58 lei/share, 17% below the amount distributed last year of 21.29 lei/share.
Compared to the latest Transgaz share price on the stock exchange, of 195.9 lei, the gross dividend yield is about 9%.
The company last year paid dividends in the aggregate value of 250.7 million lei, representing 76% of the net profit in 2012, of 329.3 million lei.
Distribution of dividends will be discussed by the shareholders in an AGM scheduled for April 28, according to a convening notice sent on Monday by Transgaz to the Bucharest Stock Exchange (BVB ).
Dividends will be distributed starting with July 29.
At the AGM shareholders will also discuss the establishment of a representative of the company in Brussels.
The national gas transport company is controlled by the state, through the General Secretariat of the Government, which holds 58.51% of shares.
Reported to the recent market price of the shares Transgaz, the market capitalization of the company is 2.306 billion lei (EUR 514.6 million).