Romanian state-owned natural gas producer Romgaz wants to distribute EUR 233 million worth of dividends to its shareholders. The sum represents 88% of last year’s profit.

The proposed gross dividend per share is RON 2.7 representing almost 10% of the current share price (RON 27.1). The company’s shareholders will make the final decision on this at the end of April.

In 2015, Romgaz had a net profit of EUR 265 million, down by 16% over the previous year. The turnover dropped by 10% to EUR 910 million.

The Energy Ministry owns a 70% stake in the company. Romgaz is listed on the Bucharest Stock Exchange and the London Stock Exchange and has a market capitalization of EUR 2.34 billion.

editor@romania-insider.com