“Based on this year’s dividends, in 2013 we will distribute by 15% to 20% higher dividends,” said Greg Konieczny, manager of Fondul Proprietatea.
The fund’s shareholders stand to receive a gross dividend of 0.0385 lei (EUR0.0086) a share from the 2011 profit, up 22.6% on the year. The amount equals 97.5% of the fund’s net profit for 2011, of RON543.8 million (EUR122.4 million).
In turn, Fondul Proprietatea will receive dividends of RON614.23 million from the companies in its portfolio in 2012.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
End-May, foreign investors held 55.72% of the fund’s shares, while residents had 39.88%.
On the Bucharest bourse Tuesday, Fondul Proprietatea closed down 0.68% at RON0.44 a share. (EUR1=RON4.4441)