Bucharest Stock Exchange defies regional context with new record performance
The blue chips index at Bucharest Stock Exchange (BVB) reached a new record level on September 18 (14,179) after a 0.32% advance against the previous trading day (September 15), driven by dividends announced by some listed companies, including Fondul Proprietatea, Ziarul Financiar reported. This took place amid a bearish context.
The positive sentiment prevailed among BVB investors over the past two weeks, pushing up the BET index by 7.3%. BET has advanced in 7 of the last 10 trading sessions, the maximum level reached during Monday's session being 14,205. The advance since the beginning of the year is 21.6% ytd.
At the same time, the index that includes the dividends (BET-TR) advanced by 26% ytd, and the energy companies index (BET-NG) by 24.5%, according to BVB data.
Fondul Proprietatea (BVB: FP) will distribute as dividends the RON 9.3 billion revenues generated by the Hidroelectrica IPO.
At the same time, Petrom decided to pay a special dividend on October 19, higher than the dividend paid from last year's record profit, and Banca Transilvania )BVB: TLV) will hold the general shareholder meeting on September 29 to approve dividend payout. With this proposal, the bank sets ground for a possible distribution of dividends by BRD-SocGen bank as well.
(Photo source: Inquam Photos/George Calin)