The amount of RON45.38 per share was requested by the Economy Ministry, while the company’s management had proposed a gross dividend of RON25.5 per share, the equivalent of a 6.6% yield.
According to shareholders’ decision, RON534 million from last year’s net profit will be paid out as dividends and RON47 million represents own funding sources.
„Does not approve the gross dividend per share in the amount of lei 25.22/share related to the financial year 2017, and of the date of 16 July 2018 as a pay-out initiation date. (…) Approves the distribution of the net profit of the financial year 2017, amounting to 90%, as follows (…) Approves the gross dividend per share in the amount of 45.38 lei/share for the financial year 2017, the date of 16 July 2018 as a deadline for the dividend pay-out initiation”, Transgaz said in a statement sent to the Bucharest Stock Exchange.
According to the statement, the distribution of the net profit will be made as follows:
– dividends due to shareholders: RON534,297,040.72
– profit for the constitution of own financing sources: RON47,764,002.28
– participation of employees to profit according to the provisions of art 141 of the Collective Labour Contract concluded within TRANSGAZ, in force, in the amount of RON11,579,208.00.
Shareholders also set the date of 26 June 2018 as registration date for the shareholders subject to the Resolution of the Ordinary General Meeting of the Shareholders and the date of 25 June 2018 as ex-date.