Heineken Romania Pays EUR29 Million In Dividends

05.30.2011 ZF English

Heineken Romania brewer has increased its profitability by at least 50% last year, according to ZF estimations, even though the beer market is still affected by the crisis, having dropped by 3.5% in 2010.

The company will disburse more than 120 million lei (EUR28.5 million) of the 2010 profit in dividends, according to ZF calculations based on the information in the Official Gazette, which reveals that the company approved a gross dividend of RON1.03 per share. If taking into account the over 120 million shares of the company, the dividends should be worth more than RON120 million.

In 2010, the company, whose brand portfolio includes Heineken, Golden Brau, Ciuc and Bucegi, posted RON934 million (EUR222 million) in net turnover.

In 2009, Heineken Romania SA posted RON896.2 million (EUR211.9 million) in net turnover and RON76 million (about EUR18 million) in net profit, according to the data available on the Finance Ministry website.

Therefore, if taking into account a minimum profit worth RON120 million in 2010, the growth should amount to over 50%, while the net turnover rose by 4%, according to ZF's calculations.

The company did not comment on the information about the 2010 profit.