Revenue is seen down 31% on the year, to RON150 million, while expenditure is expected to decline 30% to RON147.8 million, according to the budget for 2012, approved Monday.
Another shareholder decision was to approve the payment of gross dividend worth RON0.24 per share from 2011 profit, double the dividend paid in the previous year. Thus, the company will pay a total RON2.3 million in dividends.
Artego is 70% owned by the employee association, while managing board president Viorel David holds 4%.
The company, Romania’s sole producer of rubber bands for material transportation, serves clients such as state-owned mining company SNLO and firms from Italy, Spain, Finland, the UK, France and the UAE.
Artego shares were last traded Friday, at RON2.8, up 4.09% on the day. (EUR1=RON4.3786)