The record high dividends of above 1.1bn RON Fondul Proprietatea(Property Fund - FP) is set to award are likely to be the firstcash compensation the former owners get after having waited foryears on the lists of the National Authority for PropertyRestitution (ANRP).
Starting July 1, the Government suspended cash compensations toformer owners over a two-year period, during which compensationsare exclusively awarded in form of FP stock, pursuant to Ordinance62/2010.
As FP this year distributes 1.1bn RON or 0.0816 RON/share recorddividends, the stake of becoming a Fund shareholder by September27, the shareholder registration date, has also risen for theformer owners who initially opted for cash compensations.
The former owners who initially opted for cash can either waituntil 2012, or change their option from cash to stock.
"A big problem is that the people who initially opted for cash havebeen waiting for years to get the money, with waiting lists gettingto as many as 13,000 files. And the Government comes and suspendscash compensations for another two years given that had the formerowners opted for stock compensations from the start, they wouldhave been collecting dividends since as early as 2007 (...)," saidlawyer Iulian Lepa.
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