Romgaz (SNG) proposed distribution of dividends to shareholders worth a total of 990.6 million lei (221.9 million euro), 7.15% under last year`s figure.
The company proposes shareholders a gross dividend of 2.57 lei/ share, which, reported to the most recent share price of 33.49 lei, returns a yield of 7.67%.
The company distributed to shareholders a gross dividend of 27.68 lei/share, but when the number of shares was lower, and the nominal value was of 10 lei/ share. Prior to listing, the GSM decided decreasing the nominal value of 10 to 1 lei and increasing tenfold the number of shares, the share capital remaining the same.
Therefore, compared to the current number of shares, the gross dividend last year would be of 2.768 lei/ share.
Dividends would be distributed from July 28.
The dividend proposal will be discussed at an GSM scheduled for April 28.
The aggregate value of the dividend announced by the company is higher than the preliminary net profit presented at the end of February, of 930.7 million lei (210.6 million euro). The profit announced it is nearly 17% below earnings in 2012.
Turnover increased by 1.5% last year to 3.89 billion lei (881.2 million euro).
The state controls 70% of Romgaz, Fondul Proprietatea has 15% of the shares and the difference is in other investors`portfolios, as the company was listed last year through a public offer both on the Bucharest and on the London Stock Exchanges.
