Today is the last day when FP shares include the dividend granted from the sale of Hidroelectrica

Andrei Iacomi
English Section / 6 septembrie

Today is the last day when FP shares include the dividend granted from the sale of Hidroelectrica

Versiunea în limba română

Today is the last day on which you can buy shares of Fondului Proprietatea (FP) in order to collect the dividend that will be distributed from the money taken by FP on the 19.94% stake in Hidroelectrica, according to the decisions of the Fund's shareholders.

FP will distribute a special dividend of 1.7225 lei, from the proceeds of 9.28 billion lei from the sale of Hidro shares, for which the registration date, which defines the investors who will benefit from the dividends, is September 8. As at the Bucharest Stock Exchange (BVB) the settlement period is T+2, i.e. two days after the transaction, it follows that the cum-dividend date, which defines the last day on which FP shares can be bought to benefit from dividends, is today, September 6.

Compared to yesterday's price of the Fund's share at 15:00, of 1.91 lei, the gross yield of the dividend that FP will pay on September 29 amounts to 90%.

It should be noted that tomorrow is the ex-dividend date, that is, the first day when those who buy FP shares will no longer receive dividends. At ex-date there is a price correction, following the sales of those who give up the shares that no longer include the right to receive dividends. In the special case of Fondul Proprietatea, taking into account the large size of the distribution, BVB will calculate a reference price based on the closing quotation of the FP from today's meeting from which the value of the gross dividend will be deducted. If we assume that the FP stock will end the day at 1.91 lei, the reference price for tomorrow will be 0.1875 lei. This is not the ex-dividend price, but the reference for September 7, against which the market share price will be reported, which will be determined according to demand and supply, according to BVB regulations.

"BVB will publicly disseminate (on the BVB website) after the close of the trading session on September 6, 2023, the reference price of the respective shares applicable for the trading session on September 7, 2023", announced the operator of our market capital.

According to the BVB, tomorrow, September 7, the pre-opening stage of the symbol FP in the main market (REGS) will start at 9:30, compared to the usual time of 9:45, "The schedule of the other stages of the trading session for the respective symbol will remains unchanged (it will be entered on the time coordinates applicable to the REGS and DEALS markets)," the exchange announced. Private pension funds, foreign investment funds, SIFs and individual investors from our country are part of the ownership of Fondul Proprietatea.

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