Ceauşescu's receivables drag FP dividends down

The share capital of Fondul Proprietatea (Property Fund - FP) was increased by 20.8m RON (4.9m euros) to 13.77bn RON (3.24bn euros) after the state recovered some receivables from the communist regime's foreign trade operations, which the Finance Ministry contributed to the fund's capital. The impact of the operation translated into falling dividend value.
Just a few weeks before the general meeting of shareholders, the Fund's management modified the initial proposal of granting a dividend of 0.0822 RON/share from 2008 and 2009 profits, suggesting to shareholders a lower value of gross dividend, of 0.0816 RON/share, in the wake of the share capital increase. The Fund has to distribute dividends worth 1.124bn RON (265m euros) from profits made in 2008 and 2009.
By law, the sums raised from recovering the Romanian state's receivables over states such as Sudan, Syria, Nigeria, Somalia, must be transferred to FP capital. The state should also transfer to the Fund sums raised from the privatisation of some companies such as BCR, Romtelecom or CEC.