SIF Transilvania dividend proposal

Thus, the management has proposed a dividend per share of RON 0.03 which corresponds to a pay-out ratio of 49% and implies a yield of 5.3% on Friday's closing price. The ex-dividend date was set for May 18, 2011. Although the pay-out ratio is higher than SIF3's usual rates, we view this piece of news as rather neutral given the fact that SIF Moldova's dividend announcement has hinted that SIFs might increase their pay-out ratios.

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