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