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Romanian Aluminum Co Alro To Pay RON205.3M Dividends

Romania's aluminum producer Alro Slatina SA (ALR.RO) plans to pay gross dividends totaling 205.3 million lei (EUR1=RON4.2392) for 2008 financial year, or RON0.2876 per share, half of the dividend paid last year.
Bogdan NeaguGabriela Stan
31 mart. 2009, 12:48, Economic

The shareholders will discuss the amount in a meeting scheduled for April 30.

The total value of dividends represents 84% of last year’s preliminary net profit, worth RON244.1 million. Alro’s profit fell 44% last year, compared with RON436.2 million in 2007.

For 2007 financial year, Alro paid RON432.7 million dividends, or RON0.6063/share.

Alro Slatina, the largest aluminum producer in Eastern Europe, has a share capital of RON356.8 million split into 713.7 million shares with a face value of RON0.5 each.

The company is majority owned by Dutch-based Vimetco, with an 84% stake, while its most important minority shareholder is investment fund Fondul Proprietatea, with 10.05% of its shares.

Vimetco is a vertically-integrated international aluminum producer, operating in Romania, China, and Sierra Leone. The group totals around 11,000 employees.

On Bucharest Stock Exchange at GMT 0845 Tuesday, Alro shares were trading at RON1.3600, up 14.29% on the day.