Pharmaceutical company Zentiva, controlled by Sanofi Aventis, has proposed the distribution of the first round of dividends in Romania after its listing on the Bucharest Stock Exchange. Zentiva's administration council has proposed around EUR 30 million of dividends out of last year's profit and its reserves in Romania. It has also proposed a loan of EUR 11.9 million to its majority shareholder, French Sanofi Aventis. Zentiva has not paid out dividends since 2000, according to the most recent data available on the Bucharest Stock Exchange.

Shareholders will receive around RON 0.30 per each share they own. Zentiva's sharse are trading on the Bucharest Stock Exchange at a price of RON 1.13 per share (last price). Check out more details here (symbol SCD).

The Zentiva shareholders will decide on these proposals in the shareholders meeting scheduled for April 28. Zentiva posted a EUR 60.4 million turnover last year, up 45 percent on 2009. The company made a profit last year, after having posted losses in 2009. Zentiva is the former Romanian pharmaceutical company Sicomed.

editor@romania-insider.com