The proposal is subject to shareholder approval at a meeting due July 28.
Late April, SIF Oltenia shareholders rejected the propositions regarding the payment of dividends from last year’s profit. SIF Oltenia board had previously proposed the payment of a gross dividend worth RON0.16 per share, totaling RON92.8 million (EUR20.9 million), representing over 71% of last year’s profit.
On the other hand, businessman Gheorghe Iaciu and three ING funds, jointly holding a 7.33% stake in SIF Oltenia, proposed the payment of a gross dividend worth RON0.21 per share, totaling RON121.8 million, and representing almost 94% of last year’s profit.
Of the five regional investment funds, SIF Banat-Crisana (SIF1.RO) and SIF Muntenia (SIF4.RO) decided not to pay dividends this year.