Romanian utilities companies Transgaz Medias (BVB ticker: TGN) and Transelectrica Bucuresti (TEL) and gas producer Romgaz Medias (SNG) are expected to pay the highest dividends next year to their investors, taking into account the financial results for the first half of 2014, local analysts say.

“In terms of dividend attractiveness which we estimate based on half-year results, first comes Transelectrica, for which we expect a gross dividend of RON 3.7 per share, which would be the equivalent of a 16% yield on the current market price,” said Georgiana Androne, stock analyst for local brokerage firm Tradeville.

Transelectrica’s profit went up by 120% in the first half of this year, due to higher energy transmission fees.

Gas transporter Transgaz also increased profit by 118% in the first half and analysts estimate a dividend yield of 11% on the current market price. Gas producer Romgaz, which saw its profit up by 40%, may pay a dividend that’s equal to 8% of its current share price, Tradeville analysts have calculated.

Transelectrica, Transgaz and Romgaz were among the best dividend stocks this year as well and their shares had positive evolutions. Transelectrica shares returned more than 60% in the first eight months of this year, dividend included, while Transgaz returned 30% in the same period. Romgaz shares offered a total gain of almost 14%.

Andrei Chirileasa, andrei@romania-insider.com