Romanian state-controlled power grid operator Transelectrica (TEL) wants to distribute only 26% of its 2020 net profit as dividends – some RON 39 mln (EUR 8 mln) in total. The company will also distribute RON 20.5 mln (EUR 4.2 mln) worth of dividends from its reserves. Thus, the total sum that will reach the investors’ accounts is RON 59.5 mln (EUR 12.2 mln).

The proposed gross dividend per share is RON 0.814 and represents 3.1% of the current share price of RON 26.4 (as of March 25).

Transelectrica’s shares are up by a modest 2.34% this year, compared to a 10.86% increase for the BET index and a 13% increase for the BET-NG index, which follows the shares of listed energy companies.

editor@romania-insider.com

(Photo source: Pexels.com)