The shareholders of Conpet are summoned on April 23 to approve the distribution of dividends amounting to 59.24 million lei, equivalent to 90% of the net reintegrated profit (with the employee earnings provision) realized last year, of 65, 76 million lei, informs the company through a release sent to the Bucharest Stock Exchange (BVB).

The unit value of the dividend from the profit obtained in 2018 is 6.84 lei, which, compared to the closing price of the COTE title, gives the shareholders a gross return of about 9%, according to Bursa.

At the same time, on the agenda of the shareholders meeting are two proposals for distribution of additional dividends, the first one referring to the distribution of the retained earnings representing the surplus from the revaluation reserves, the amount directed to the shareholders being of 4.3 million lei from a result totaling 5.34 million lei, while the second proposal envisages the distribution of the share of 35% of the amounts allocated to other reserves, namely 1.1 million lei.

Thus, the cumulative yield on dividends offered by the operator of the national system for the transport of crude oil and petroleum products amounts to about 10%.

To qualify for dividends, investors must hold COTE shares on June 11, 2019, while the payment will be made as of June 27, 2019.