The company plans to grant a gross dividend of RON0.35 per share, which means a 1.8% yield, relative to the current trading prices of RON19.46, in line with calculations by Ziarul Financiar (ZF) daily.
“Approval of the gross dividend per share in the amount of 0,35 lei/share for the financial year 2023. Setting the date of 28.06.2024 as registration date for the shareholders subject to the Resolution of the Ordinary General Meeting of the shareholders, according to the applicable laws; setting 27.06.2024 as an ex-date, in accordance with the legal provisions in force; setting 18.07.2024 as the dividend payment date”, as per the convening notice published at the Bucharest Stock Exchange on March 20.
The company also says that “the distribution to dividends of 50% share of the distributable profit determined after the deduction of the sums related to the destinations set based on the legislative acts specifically provided for by Government Order 64/2001 ensures the
establishment of own funding sources absolutely necessary during this period when the company is carrying out strategic investment projects included in the company’s development program approved by the National Energy Regulatory Authority and the extensions of the natural gas transmission pipeline system intended to connect the country’s localities to the National Transmission System, with a major positive impact on increasing the population’s welfare and the extent of Territorial Administrative Units’ development, as well as increasing the safety of the operation and functioning of the National transmission System (NTS).”
“Under the Revenue and Expense Budget, the Company substantiated for the period 2024-2026 investment expenses amounting to RON4.2 billion for the achievement of these investments the attraction of loans amounting to RON2.29 billion is budgeted. The share under Transgaz’ revenue and expense budget for 2023, as approved by OGMS Resolution 2/16.02.2023 was 50%”.
Transgaz ended 2023 with net profit of RON172.4 million, at a group level, down 50% on the year. At an individual level, the net profit reached RON160 million, down 56% on the year. The company’s preliminary consolidated report also shows that operating revenue before the balancing and construction activity, according to IFRIC12, reached RON1.78 billion, at a consolidated level, up 13% year-over-year.
The company has a market value of RON3.6 billion. So far in 2024, its shares have gained 3.2%.