Alumil Rom Industry, a producer of aluminum profiles, proposed a gross dividend of RON 0.416 per share to its shareholders.

The company’s shares were trading at RON 1.38 before the announcement, which means that the dividend yield is close to 30%, the highest of all companies listed on the Bucharest Stock Exchange.

Alumil’s shares went up by 15% after the announcement, closing the day at RON 1.58. At this price, the dividend yield is 26%.

The total dividends amount to RON 13 million (EUR 2.8 million), representing 96% of the net profit recorded in 2017. Last year, Alumil increased its profit tenfold, to RON 13.6 million, on a 20% increase in net revenues, to RON 69 million (EUR 15 million).

The company, which is part of Greek group Alumil, has a market capitalization of RON 49 million (EUR 10.5 million).

editor@romania-insider.com