Romania: Lower dividend for 2020 proposed at Transgaz

, SEE Energy News

Last year, Romanian natural gas transmission system operator Transgaz distributed gross dividend in the amount of 3.16 euros/share.

Transgaz plans to distribute gross dividend in the amount of 1.66 euros/share from last year’s net profit. The total payout will amount to 19.6 million euros, which is about 55 % of the company’s net profit recorded in the previous year. The proposal will be put to vote at the next shareholders’ meeting scheduled for 27 April.

Transgaz recorded a net profit in the amount of 46 million euros in 2020, which is by 34 % less compared to the previous year.The company’s operating revenues fell by 15 % to 273.2 million euros in 2020, while operating costs fell by 11 % year-on-year to 225.5 million euros. In 2020, Transgaz transported 145.6 million MWh of natural gas, which is 9 % lower compared to the previous year.