The company had proposed last year’s profit would be used to hike the share capital to RON74 million, from RON56.8 million presently. However, the Health Ministry, majority owner in Antibiotice, recommended the money be used to pay out dividends.
Antibiotice will pay its shareholders a gross dividend of RON0.01519 a share. The dividend yield is 3.9%.
The pharmaceuticals company reported a net profit of RON20.3 million in 2011, of which RON8.6 million will be distributed as dividend. It is the company’s first dividend payout in three years.
Antibiotice forecasts its sales will rise 10% to RON309.1 million in 2012. The pretax profit is expected at RON29.9 million, 13% higher on the year.
The company has scheduled investments of RON36.6 million in 2012.
Antibiotice is the second-largest nystatin maker in the world, with a 25% market share, according to company information.
Romania’s Health Ministry owns 53% in Antibiotice, while investment fund SIF Oltenia (SIF5.RO) holds a 10% stake.
Wednesday, Antibiotice closed flat at RON0.39 a share in Bucharest. (EUR1=RON4.3747)