SIF Moldova dividends meet expectations

SIF Moldova at the end of last week logged preliminary net profit of 392bn ROL for 2003, 24bn ROL higher than estimated in January. The financial investment company (SIF) Board of Directors will propose its shareholders to disburse 494 ROL/share gross dividend, as set in the S&R budget a year ago. Few brokers were expecting last year to see the company attain its budget targets, given the forced execution of certain debts to AVAB and Bankcoop. The financial investment company’s earnings per share reached 755 ROL last year. The shareholders decided in 2003 that the reference date for the GM to distribute the profit should be March 1, with the actual operation scheduled for April 23 and 24. SIF Moldova’s most important transaction last year was the sale of the Sidex Galati minority stake during the tender launched for delisting the company, for which it collected 742bn ROL. ZF