Limun.hr - Moldovagaz Plans To Skip 2012 Dividend

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Moldovagaz Plans To Skip 2012 Dividend

27.6.2012 15:01:00 | Author/Source www.seenews.com

Moldovan gas utility Moldovagaz, majority owned by Russia’s Gazprom, said it will pay no dividend for 2012 after skipping dividend payment for 2011, as well.

Moldovagaz shareholders decided to use 95% of the company's expected 2012 profit to cover losses from previous years and to allocate the remaining 5.0% to reserves, it said in a statement without providing a forecast for the 2012 profit.

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