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Gaso to pay EUR 36.209 million in dividends from profit of previous years

Natural gas system operator Gaso, whose owne from this past summer is Estonian company Eesti Gaas, will pay out EUR 36.209 million in dividends from the profit of previous years, and the company will reduce its share capital by EUR 39.501 million, according to information on the decisions taken at the extraordinary shareholders’ meeting published by Gaso.

Dividends will be paid to the company’s shareholders at a rate of EUR 0.90749 per share. The dividend calculation date is October 11, 2023, with dividend payments to be made by October 20, 2023.

At the same time, Gaso shareholders’ meeting decided to reduce the company’s share capital by EUR 39.501 million by reducing the nominal value of a share from EUR 1 to EUR 0.01.

After the reduction of the share capital, Gaso paid-up share capital will therefore amount to EUR 399,000, comprising 39.9 million shares with a nominal value of EUR 0.01.

The extraordinary shareholders’ meeting on October 11 this year also decided to cover the 2022 loss of EUR 1.751 million from retained earnings from previous years.

As reported, at the end of July 2023, Eesti Gaas, owned by Estonian investment company Infortar, became the sole owner of Gaso.

Gaso’s revenue last year was EUR 52.46 million, down 11.3 percent on 2021, and the company suffered a loss of EUR 1.751 million, compared to a profit the year before.

Gaso was established at the end of 2017 to separate the distribution system operations of Latvijas Gaze and meet the European Union and national requirements for ensuring the independence of the natural gas distribution system. Gaso is the only natural gas distribution system operator in Latvia. The company provides security, technical services and accounting for natural gas consumption. Gaso is a commercial company of national security importance.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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