BRD-Groupe Societe Generale,the second largest bank domestically, proposes shareholders a grossdividend of almost 0.18 lei/share, the smallest of the past fiveyears, so that for a BRD share bought on Friday for 14.1 lei, aninvestor would get a gross return of below 1.3%.
This happens as the sharesof the five financial investment companies offer returns rangingbetween 3.5% in the case of SIF Banat-Crişana (SIF1) and 7% in thecase of SIF Muntenia (SIF4).
Two years, the situation wasquite the opposite, as BRD in 2008 registered a record high profitand disbursed dividends at a yield of almost 9%, while in the caseof SIFs, yields did not go beyond 6.6%.
Some SIFs preferredinvesting the money raised from the sale of BRD shares in FPshares, which are likely to offer a dividend yield almost doubleagainst BRD this year, of 2.6%.
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