Romania requests Transgaz to pay special dividend

Romania requests Transgaz to pay special dividend Transgaz. Author (Transgaz.ro) License: all rights reserved.

BUCHAREST (Romania), September 13 (SeeNews) - Romanian gas pipeline operator Transgaz [BSE:TGN] said on Wednesday the government, its majority shareholder, has requested the company to distribute 171 million lei ($44 million/37 million euro) in special dividend for 2016.

The dividend payout has to be made from Transgaz's 2016 other reserves and deferred result, the company said in a statement filed with the Bucharest Stock Exchange, BVB. The Romanian state holds 58.5% of Transgaz, while the remainder is in free float on the BVB.

Transgaz is the fourth state-controlled company to be asked this month by the government to pay dividend early or distribute special dividend after natural gas producer Romgaz [BSE:SNG], majority state-owned oil pipeline operator Conpet [BSE:COTE] and power grid operator Transelectrica [BSE:TEL].

Romgaz received a request from the government for early distribution of 750 million lei in dividend for 2017. The government owns 70% of Romgaz's share capital, with the remaining 30% in free float on the BVB.

Conpet was requested to distribute 85 million lei in special dividend for 2016. The Romanian state owns 57% of Conpet, while the remainder is in free float on the BVB.

Transelectrica will hold a general shareholders meeting on October 16 to approve the distribution of 170 million lei in special dividends from the sums existing in the end-December balance of other reserves and retained earnings accounts.

The Romanian finance ministry owns some 59% of Transelectrica.

Transgaz shares traded 0.25% higher at 401 lei on the BVB as at 1606 CET on Wednesday.

Conpet shares traded 0.93% lower at 106 lei at 1604 CET.

Shares in Romgaz changed hands 0.64% higher at 31.6 lei lei at 1551 CET.

Transelectrica shares traded 2.10% up at 29.2 lei at 1610 CET.

(1 euro=4.5986 Romanian lei)


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