BRD-Groupe Societe Generale will disburse 965bn ROL's ($29 million) worth in dividends this year, if shareholders endorse the management's proposition. The dividends are 25% lower than last year, when the bank disbursed 1,201bn ROL ($38.5 million). The gross dividend to be distributed by BRD amounts to 693 ROL/share. The bank disbursed 862 ROL/share in gross dividend last year, which accounted for a little more than 50% of the net profit. BRD posted 1,773bn ROL net profit nine months through last year. The agenda of the General Meeting of Shareholders does not include distribution of bonus shares and the split of the face value, either, as rumour on the capital market had it earlier this year. The investor expectations of a distribution of bonus shares or of the split of the face value are among the reasons why BRD has seen significant growth on the Stock Exchange ever since the beginning of the year. BRD-Groupe Societe Generale shares dropped 7.45% last Friday, a drop fuelled, according to brokers, by the Board's decision to propose lower dividends. ZF
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