FP dividends to be set on April 29

Fondul Proprietatea (Property Fund-FP) shareholders are due to approve on April 29 the distribution of 2010 profit in the form of dividends during the general meeting of shareholders.
Each share is likely to be awarded a gross dividend of 0.033 RON, namely 5.3% of Friday’s share price of 0.62 RON, should shareholders decide profit should be distributed entirely.
FP ended 2010 with income worth 456.3m RON (108m euros), 130% above the revised budget stipulations, according to the latest report issued by manager Franklin Templeton.
As the income was largely generated from the interests collected for deposit liquidities and from the dividends received from the companies part of the portfolio, Franklin Templeton officials publicly announced they would propose to shareholders the income should be entirely distributed in form of dividends.