The shareholders rejected the proposition of Romanian investment fund Fondul Proprietatea (FP.RO) of paying higher dividends from last year’s profit, as well as supplementary dividends from the previous years’ profits and reserves totaling RON70 million.
Fondul Proprietatea had proposed the payment of gross dividend worth RON3.8131 per share from last year’s profit
Thus, Conpet will pay a gross dividend worth RON3.4418 per share from last year’s profit, up 4.4% from RON3.2678 per share paid last year, representing 85% of last year’s profit of RON34.7 million.
Conpet is 58.72% owned by the Economy Ministry while investment fund Fondul Proprietatea holds a 29.7% stake.
On the Bucharest stock market Tuesday, Conpet closed down 3.96% at RON48.5 a share. (EUR1=RON4.4403)