In FY 2021, Fondul recorded a net unrealized gain from equity investments at fair value through P&L of RON 4.6bn. Meanwhile, net profit amounted to RON 5bn, compared to net loss of RON 103m. Distribution of an annual gross dividend of RON 0.1250 per share was approved from the 2021 net accounting profit, representing 5.85% DY. June 2nd is set for ex-date.
In FY 2021, Fondul Proprietatea recorded the net unrealized gain from equity investments at fair value through profit or loss of RON 4.6bn. Such a result was mainly generated by OMV Petrom as a result of the positive evolution of this company’s share price during 2021, reporting a share price increase of 37.3% (an increase of RON 537.1m). The positive impact from OMV Petrom was further boosted by the increase in the value of unlisted holdings in the portfolio following the valuation update process, mainly due to Hidroelectrica, which registered an increase in the valuation of RON 3,912m. Regarding the Romanian capital market performance, last year was the best year in history and set a series of new records at the level of several development indicators. In 2021, the Romanian capital market registered a significant increase in the number of investors trading on the BVB, achieving greater investment activity on BVB. Throughout the year, Fund did not invest in treasury bills.
In 2021, 13 companies in the Fund’s portfolio declared dividends for FY 2020. In addition, 4 companies declared special dividends. The total amount of gross dividend income amounted to RON 655.1m. The main dividend payers were Hidroelectrica SA (RON 199.4m), OMW Petrom, (RON 29.3m), and E-Distributie (RON 23.6m).
As a result, net operating income amounted to RON 5.2bn, compared to a loss of RON 10m in 2020. In 2021, the company recorded a net profit of RON 5bn compared to a loss of RON EUR 103m in 2020.
In 2021 Fund’s share price for both shares and GDRs varied between 10% to 20% on all trading days. Furthermore, in 2021 the local currency depreciated by 2.3% compared to EUR.
To emphasize, Fondul held Ordinary and Extraordinary General Meetings on 20th April. The key takeaway was the approval of the decrease of the subscribed and paid-up share capital of Fondul by 194.4m own shares acquired by Fondul during the year. Also, the distribution of an annual gross dividend of RON 0.1250 per share was approved from the 2021 net accounting profit, representing 5.85% DY. June 2nd is set for ex-date.
Dividend per Share (RON) & Dividend Yield (%) (2018 – 2022)