EnglishThe Management Board of aluminium producer Alro SA has proposed to the shareholders a gross dividend of 0,3891 RON/share. The proposal will be discussed in the General Meeting of shareholders, which will be held on April 24th.
The annual dividend rate is 67%, declining from the average rate in the past few years. According to Paul Brendea from SSIF Prime Transaction, the proposed dividend is below expectations, its yield being 8,5%, but it came as no surprise to the market.
Vanguard analyst Cristian Tudorescu believes that the yield of Alro"s net dividend is very attractive compared to the average dividend offered by Romanian companies in the past few years. The aluminium producer doubled its profit and decided to return nearly 80% of it to shareholders.
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