The stockholders were given the option to collect a cash payment of 111.3 million lei (EUR24.92 million) from last year’s profit or direct the money for new investments.
This is the first year SIF Muntenia will not pay out dividends.
Separately on Tuesday, SIF Muntenia’s peer fund SIF Banat-Crisana (SIF1.RO) also decided to keep its profits in-house.
SIF Banat-Crisana holds a controlling interest in SAI Muntenia Invest, the managing company of SIF Muntenia.
SIF Muntenia expects a pretax profit of RON80.9 million in 2014, down 46% from RON151 million a year earlier, according to the company’s budget for this year.
Revenues are projected to fall 53% to RON108.1 million, while costs are seen declining 66% to RON27.2 million. (EUR1=RON4.4646)