BRD, Alro and Transgaz are disbursing the highest dividends onthe Bucharest Stock Exchange, but the best yields rest withAerostar, Bermas and Santierul Naval Orsova. SIF Oltenia may winthe race at the last moment should its shareholders approve thedoubling of the dividend proposed by its management. Most companieslisted on the Bucharest Stock Exchange decided to allot a smallerslice of profit for shareholders' dividends, both because of thefalling incomes reported last year and of the cash flow problemsthey are experiencing during this period because of clients'payment delays. The total value of dividends due to be disbursed bycompanies listed on the Bucharest Stock Exchange this year amountsto 685m RON (167.9m euros), 36% below the value of dividendscompanies granted in 2009 and way below the record high reached in2007, of 2.3bn RON (650m euros). Petrom, the biggest domesticcompany listed on the Bucharest Stock Exchange, suspended dividendpayment starting 2008, preferring to invest the money in its ownbusiness. Dividend yields calculated on the basis of current marketprices are lower even than the interest rate banks offer forone-year deposits, of 7.5%-8%, so that dividends are no longerplaying a major role in investors' stock choices.
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