Thus, KMG’s request is to change the destination of the reserves constituted from the net profit of the company obtained in the previous years, in the amount of RON29.2 million and the distribution of this amount as dividends to shareholders, respectively a gross dividend of RON0.1050/share.
According to calculations by Ziarul Financiar (ZF) based on a share closing price at Friday’s trading session, a dividend yield reaches 24.5%.
Rompetrol Well Services had previously proposed shareholders, at the meeting scheduled on April 26, 2021, a gross dividend of RON0.01568 per share from the 2020 profit, which, at the closing prices at the time of the proposition, secured investors a yield of 3.5%, per ZF calculations.
The proposed registration date is June 18 and the proposed payment date is July 8.
Rompetrol Well Services, with a stock market capitalization of RON121.3 million, ended 2020 with a turnover of RON49 million and a net profit of RON4.36 million.
KMG International owns 73% of Rompetrol Well Services and KJK Balkan Holding owns 10.7%, per stock market data.