BRD Pays Dividend Of RON0.18/Share

04.14.2011 By Florentina Dragu

Shareholders of Romania’s second largest bank BRD-Groupe Societe Generale (BRD.RO) approved paying out a gross dividend of 0.17957 lei (EUR1=RON4.1021) from 2010 profit, 36% lower on the year, the lender said in a statement Thursday.

Shareholders of Romania's second largest bank BRD-Groupe Societe Generale (BRD.RO) approved paying out a gross dividend of 0.17957 lei (EUR1=RON4.1021) from 2010 profit, 36% lower on the year, the lender said in a statement Thursday.

The bank will pay total dividends of RON125.1 million, amounting to around a quarter of the 2010 net profit, worth RON500.5 million.

BRD's shareholders received a gross dividend of RON0.2795 a share from the 2009 profit.

The bank estimates a flat or slightly higher net profit in 2011, as risk costs are expected to stabilize.

It said pretax operating profit is expected to match or slightly exceed 2010 figures, of RON2.2 billion.

BRD has a share capital of RON696.9 million, split into 696.9 million shares with a face value of RON1.

French Societe Generale holds a 59.36% stake in BRD, while Romania's five regional investment funds SIFs own together a little over 22% of its shares.

At around GMT1330 Thursday, BRD's shares traded up 1.34% at RON15.5 in Bucharest.

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