Romanian pharmaceutical producer Zentiva pays EUR 16 mln dividends

Romanian pharmaceutical producer Zentiva Bucuresti will pay RON 70 million (some EUR 15.9 million) dividends to its shareholders from last year’s profit and the company’s cash reserves, it announced on Wednesday. The cumulated gross dividend per share will be about RON 0.168, which is a little over 10% of Zentiva’s closing share price on the Bucharest Stock Exchange yesterday - RON 1.65 per share. The dividend is also more than double compared to last year. The company’s board of directors also approved on Wedensday, MArch 25, the investment plan for 2015, amounting to RON 7.6 million (EUR 1.7 million). The company will invest in production facilities and equipment. The board also reconfirmed Christophe Gourlet as Chairman of the Board. Gourlet is Country Manager for Romania with French group Sanofi, which is Zentiva’s majority shareholder. Zentiva, one of the largest drug producers in Romania, last year increased its turnover by 36%, to EUR 89 million and made a net profit of EUR 13.8 million, 50% higher than in 2013, according to preliminary results published in February. The company has a market capitalization of EUR 156 million. Andrei Chirileasa, andrei@romania-insider.com