The gross dividend proposed provides a yield of 7.0175% of the average trading price of the shares in 2018 and 7.1942% of market closing price/share on the last trading day of 2018.
“The gross dividend proposed to be allotted for one share held as of the registration date is 0.15 lei/share, which represents a distribution rate of 87.3485% of the total net profit achieved in the fiscal year 2018”, the fund said in a statement.
The Board of Administration proposed and will submit to approval of the Ordinary General Shareholders Meeting that registration date to be the date of May 28, 2019 (ex-date May 27, 2019).
SIF Oltenia reported a net profit of RON96.2 million for 2018, up 29.5% on the year, and its revenue from dividends, interests and other operating revenue totaled RON118.6 million, up 30% compared with 2017. In 2018, the fund sold a 6% stake in BCR to Erste Group for EUR140 million.
SIF Oltenia currently has a stock market value of RON1.2 billion after its share prices dropped 0.24% since the beginning of the year.