Romania’s biggest investment fund Fondul Proprietatea (BVB ticker: FP) plans to distribute special dividends worth RON 433 million (EUR 87 mln) to its shareholders.

The proposal, which comes from the fund manager Franklin Templeton, will be discussed by the shareholders on December 15.

The proposed dividend per share is RON 0.06 and stands for a yield of 3.4% based on the current share price of RON 1.754. This is the third dividend round that Fondul Proprietatea proposes to its shareholders this year. The fund also distributed a special dividend of RON 0.072 in May and another one worth RON 0.07 in August.

The FP shares have brought investors a total return of 46% in the last 12 months, including the special dividends.

In addition to the dividends, Fondul Proprietatea also plans to carry out a new share buyback program targeting a maximum number of 800 million shares. The value of the buyback program at the current price would be RON 1.4 bln (EUR 283 mln).

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andrei@romania-insider.com