Romania: Transgaz to distribute only 50% of its net profit as dividends

Romanian state-owned gas transporter Transgaz wants to distribute only half of the net profit from 2017 to its shareholders, although the government has asked that all state companies pay dividends amounting to 90% of their profits.

Transgaz has proposed a dividend per share of RON 25.22, which translates into a yield of 6%, based on the current share price of RON 413.

The company’s management says that distributing 90% of its net profit “may result in Transgaz’ incapacity to finance strategic development projects within the limits of leverage imposed by the grant agreements”.

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