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May 22, 2022

Proprietatea Fund wants more Conpet dividends

Proprietatea Fund (FP), a shareholder in Conpet Ploiesti, demanded being distributed RON 70 M in dividends from the company reserves, aside from the Conpet management-proposed amount of RON 34.8 M, Mediafax reports. If the demand is met, Conpet will give the FP a total of RON 104.8 M, at RON 12.1/apiece. The company will also give shareholders dividends at RON 8.08/ apiece from company reserves, and a gross dividend of RON 4.02/apiece, from last year’s profit. The company will distribute nearly 90 per cent of the net profit posted last year of RON 38.6 M. Under a Government ordinance last year, state companies and public autonomous corporations must distribute 90 per cent of the profit, nearly double from the previous profit share of 50 per cent. Last year, the company posted a profit of RON 34.3 M, up 12 per cent from 2009’s.

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