Transgaz will pay total dividends of RON303 million, namely 50.9% of the RON594.5 million profit it registered in 2016.
“The reason for maintaining of a 50% share at the distribution of the net profit as dividends for year 2016 is the negative impact the increase of the share for the distribution of the net profit as dividends has on the company indebtedness degree, which between 2019 and 2020 may reach high levels (4.97 in 2019), even if a 50% share of the net profit is applied,” Transgaz said in a statement to Bucharest Stock Exchange.
Transgaz is 58.5% owned by the Romanian state and has a market capitalization of RON4.2 billion.