Fondul Proprietatea pays dividend at 3.7% yield despite posting losses last year

The shareholders of Romanian investment fund Fondul Proprietatea (FP), with major Romanian companies in its portfolio, approved to pay out of the retained earnings a dividend of RON 0.07 per share, RON 500 mln altogether, despite the fund posting losses last year, Ziarul Financiar reported.

The dividend is the equivalent of a yield of 3.7%.

The Fund’s shares were traded on July 16 at a price of RON 1.87 - 0.43% down compared to the day before.

In 2020, FP distributed dividends of RON 418 mln, out of the profit of 2019 - some RON 3.13 bln.

At the end of last year, FP reported gross income from dividends (paid by companies in its portfolio) of RON 1.2 bln, compared to RON 942 mln in 2019. The amount mainly includes dividends from the companies Elctrica Distribuţie (RON 522.9 mln), Hidroelectrica (RON 400 mln) and OMV Petrom (RON 176 mln).

Fondul Proprietatea has a capitalization of RON 13.5 bln. Since the beginning of the year, the price of its shares increased by 29.7%, and RON 563 mln worth of shares were traded.

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