Zentiva Romania Pays Dividend For First Time Since Floating

04.29.2011 By Florentina Dragu

Romanian generic drug maker Zentiva Bucuresti (SCD.RO) Friday approved paying out total dividends to its shareholders of 125 million lei (EUR30.68 million) from last year’s profits and own reserves.

Romanian generic drug maker Zentiva Bucuresti (SCD.RO) Friday approved paying out total dividends to its shareholders of 125 million lei (EUR30.68 million) from last year's profits and own reserves.

It will be the first dividends paid to its stockholders since Zentiva was listed in Bucharest in 1998.

Zentiva holders will receive RON0.1376 a share from the 2010 net profit and RON0.1622 a share from company reserves.

The pharmaceuticals company also approved lending up to RON100 million to French Sanofi-Aventis, majority holder in Zentiva.

Zentiva reported net profit of RON57.37 million in 2010, on total sales of around RON260 million. The company expects its profit will fall 14% to RON49.4 million this year, while sales are predicted to slide 5% to RON246 million.

The company has a share capital of RON41.6 million, divided into 416.9 million shares with a face value of RON0.1.

Sanofi-Aventis owns 74.9% in Zentiva Romania.

On the Bucharest bourse Wednesday, Zentiva closed flat at RON1.5 a share. (EUR1=RON4.0744)