SIF Transilvania (SIF3) board of directors proposes thecompany's shareholders the awarding of a gross dividend of 0.03lei/share from net income generated in 2010, with the dividendbeing flat from 2009 and 2008.
Last year, SIF Transilvania generated a net income of 66.9m lei(15.7m euros), the lowest in four years. In 2009, the investmentcompany had reported a record high profit of 116.6m lei (27.4meuros).
SIF Transilvania's intention to distribute almost half of lastyear's income in form of dividends comes as SIF3 shares in the pastyear posted the steepest fall among SIF stock, of over 30% (inMarch 4, 2010-March 4, 2011), while the BET-FI index lost 15.7% inthe same period.
SIF3 management had to maintain the level of dividends in a bid toregain its appeal among investors, though SIF heads have in recentyears tried to retain as much of generated income as possible fornew investments.
The gross dividend proposed by SIF Transilvania offers a 5.3%yield, taking into account the latest stock price on the BucharestStock Exchange, of 0.565 lei/share. Last year, gross dividendyielded less than 4.5%.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
