SIF Muntenia To Pay Gross Dividend Of RON0.081/Share

04.28.2011 By Andrei Circhelan

Shareholders of Romanian regional investment fund SIF Muntenia (SIF4.RO) Thursday approved a gross dividend of 0.081 lei (EUR0.02) per share from last year’s profit.

Shareholders of Romanian regional investment fund SIF Muntenia (SIF4.RO) Thursday approved a gross dividend of 0.081 lei (EUR0.019) per share from last year's profit.

The fund will now pay a total RON65.36 million as dividend, namely 90% of the RON72.6 million net profit reported in 2010.

Shareholders also approved the financial results of last year and the budget for 2011.

In 2011, the company expects a gross profit of RON65 million, down 22% on the year.

Revenue should drop 38% this year, to RON102 million, with RON70 million coming from stock market transactions.

The fund expects to collect dividend worth a mere RON8 million this year from the stock it holds in other companies, compared to RON22.2 million in 2010.

Money market investment should bring RON10 million, up 52% on the year.

Expenditure is seen at RON37 million, down 54% from RON80.2 million in 2010.

SIF Muntenia shares closed up 0.24% Wednesday, to RON0.85. (EUR1=RON4.076)