Coffee and chocolate producer Kraft Foods Romania will grant dividends worth a total of 58.3 million RON (16.5 million euros) for 2006 accounting for a gross post tax value of 5.57 RON per share, according to a company announcement published in the Official Gazette. "As recommended by the board of directors, the extraordinary general meeting decided that the sum of 58.3 million RON should be distributed in the form of dividends from the profit reported. After the tax on dividends is levied, and before the tax provided for under the law is levied, there results a gross sum per share, worth 5.57 RON, with the remaining sum, left undistributed, to be reported in 2007," the announcement reads. The company's majority shareholder is Kraft Foods International Inc holding 99.97% of the shares. Kraft Foods Romania has been present on the Romanian market since 1994, when Kraft Foods International acquired the Poiana Produse Zaharoase (Poiana Sugary Products) plant in Brasov. So far, the company has invested 30 million euros in developing its production facilities.
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