The board of directors of the producer and distributor of technical and medical gases, Messer Tehnogas (TGAS), has convened the AGM for June 12, and on the agenda is the adoption of last year’s financial reports and a decision on the distribution of profits.

The management proposed a gross dividend of RSD 450 per share (3.2% yield) compared to last year’s RSD 585. If this proposal is adopted, the shareholders will receive in dividends RSD 466.5m, which is about 23% of the FY22 unconsolidated profit.

The company set June 2 as the dividend date, while the payment day is October 20, 2023.

As previously known, Tehnogas recorded a drop in unconsolidated profit to less than RSD 2bn from RSD 2.7bn in the previous year due to higher electricity prices and write-off of receivables.

Source: Belex, Momentum