The SIFs (Financial Investment Companies) will collect dividends worth a total of 200 million RON (59 million euros) from BCR, BRD and Petrom this year, around 17% higher than last year.
The SIFs had received 170 million RON (some 48 million euros) worth of dividends from the three companies in 2006.
Erste Bank officials stated on Wednesday that they would support the proposition to have 55% of BCR's net profit disbursed as dividends. BCR made 756.3 million RON (214.5 million euros) net profit last year, so that the value of dividends amounts to 415.9 million RON (124 million euros). At the same time, BRD announced it would propose to disburse 256 million RON (75 million euros) in dividends to its shareholders.
The dividends collected from the top two banks in the system, BCR and BRD-Groupe Societe Generale, have been one of the most important streams of annual profit for the SIFs.
Each SIF will collect about 25 million RON (7.45 million euros) in dividends from BCR and an average of 13 million RON (3.38 million euros) from BRD. The SIFs own stakes of 6% in BCR each and approximately 5% in BRD.
SIF Oltenia (SIF5) should get the highest amount of dividends from the two banks, approximately 39.1 million (11.67 million euros). SIF Oltenia owns 6.12% in BCR, for which it will collect 25.45 million RON (7.6 million euros), and 5.34% in BRD, which will bring another 13.65 million RON (4.07 million euros).
Other than its interests in the banks, SIF Oltenia also owns about 0.85% in Petrom, from which it could receive 8.88 million RON (2.65 million euros) in dividends. Petrom will propose to its shareholders a gross dividend of 0.0179 RON/share, 37% higher than last year
SIF Oltenia could therefore collect a total of 48 million RON (14.3 million euros) in dividends from the three companies, 21% more than last year.
"The dividend
