Fondul Proprietatea (Property Fund-FP) is today startingdistributing dividends worth 1.12bn RON (263m euros) from the netprofits generated in 2008 and 2009. All the fund's shareholdersregistered with the Central Depository by September 27 will receivedividends.
The decision to award dividends was made during the September 6General Meeting of Shareholders, getting the approval of theFinance Ministry, the Fund's main shareholder, which held 49% instock at the date of the meeting. The Finance Ministry supportedthe decision to award dividends and their rapid distribution inorder to plug its cash gap.
The move can be considered as discriminatory as the former ownerswho got FP shares by September 27 will receive dividends, whilethose who got shares after this date will not benefit from anydividends. Moreover, by paying dividends, the Fund will diminishthe resources through which it should further compensate theseveral tens of thousand former owners still waiting to get sharesfrom ANRP.
However, despite some verbal protests from the part of some formerowner associations, which stated they would challenge the decisionto award dividends in court, the Bucharest Court of Law has notregistered any such action so far.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
