Tigáz will not pay a dividend for 2015

Telco

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A general meeting of shareholders of Hungarian gas distributor Tigáz yesterday approved a proposal to pay no dividends on 2015 earnings, as it has done for the past two years, Hungarian news agency MTI reported.

Tigáz had a HUF 1.58 billion net loss in 2015 following a HUF 14.8 bln net loss in 2014. 

Tigáz, a unit of Italyʼs ENI, has transferred its clients on the deregulated market to Magyar Áramszolgáltató (MASZ), indirectly owned by German utilities giant RWE, in March. 

Tigáz earlier agreed to transfer its retail clients to Főgáz, the recently established National Utilities Companyʼs bridgehead onto the gas market, by the end of October, 2016. 

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