The Property Fund has collected dividends worth 18.5 million euros (65.7 million RON) from Petrom, accounting for a 9.89% stake owned in the biggest company in Romania. The fund received dividends for the whole of 2005, although it was registered in the Trade Registry just three days before the end of the year. On the 29th of December, 2005, the Property Fund was set up as a joint-stock company with the purpose of awarding damages to owners who had been forcibly dispossessed of their houses during the communist regime. It has stakes in several companies among which is Petrom. The Ministry of Economy used to hold a 40.74% stake in Petrom's capital, but transferred a 10% stake to the Property Fund. The Minister of Economy, Codrut Seres recently stated he would propose to the Government that Fondul Proprietatea should only collect dividends for the three day-period of 2005 when the Fund was legally registered.
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