The technical and medical gas producer, Messer Tehnogas (TGAS), will pay out this year’s dividend on October 21, the CSD announced.

As already known, the AGM of the company adopted a gross dividend of RSD 585 per share (a yield of 3.9%), up 37.6% compared to the previous year. The shareholders will receive a total amount of RSD 606.4m which represents a payout ratio of 22%. The record date was set as June 4.

Since 2016, Tehnogas has been continuously paying dividends to its shareholders, and the dividend payout ratio has been in the range of 20-25%.

The company announced at the end of August that the consolidated H1 net profit in the first six months decreased by 15.9% to RSD 1.04bn, primarily due to an increase in the cost of electricity and materials.

Shares in Tehnogas are currently trading at RSD 14,505, representing a 7.6% drop since the beginning of the year.

Source: CSD, Momentum