BRD-Groupe Societe Generale, the second largest bank domestically, proposes shareholders a gross dividend of almost 0.18 lei/share, the smallest of the past five years, so that for a BRD share bought on Friday for 14.1 lei, an investor would get a gross return of below 1.3%.
This happens as the shares of the five financial investment companies offer returns ranging between 3.5% in the case of SIF Banat-Crişana (SIF1) and 7% in the case of SIF Muntenia (SIF4).
Two years, the situation was quite the opposite, as BRD in 2008 registered a record high profit and disbursed dividends at a yield of almost 9%, while in the case of SIFs, yields did not go beyond 6.6%.
Some SIFs preferred investing the money raised from the sale of BRD shares in FP shares, which are likely to offer a dividend yield almost double against BRD this year, of 2.6%.
Source: Ziarul Financiar