Many people look at the stock market and see that Fondul Proprietatea has the highest dividend yield of all time on the BSE. Today we are talking about 88.5%.

Bucharest Stock Exchange – BVBPhoto: Hotnews / Florin Barbuta

However, those who buy Fondul Proprietatea shares today are getting dividends from their own money, says an investment expert Adrian Angel, from OTP Asset Management.

In other words, you should not buy shares of the Fund with the idea that you will receive very large dividends. Mathematically speaking, after the previous date (September 7), the drop could be 88%.

The gross value of dividends is 1.7225 lei per share.

There is no such thing as a free lunch in the stock market / Will there be a few percent left?

“The theory says that the drawdown, ex-data, should equal the dividend yield. In fact, the company does not receive new money, and there is no free lunch in the stock market, so the decrease should be precisely on the dividend yield,” said Adrian Angel.

In practice, he says, on the stock market in Romania, we have noticed that this is not the case.

“The adjustments are always a little smaller than the mathematical calculations, in the sense that there are still a few percentages left, which look like a virtual profit for investors who were present at the ex-dividend,” explained OPT Asset representative. management.

He believes that Fondul Proprietatea remains interesting for investors.

“Fondul Proprietatea still has several assets worth considering that give this fund potential for appreciation. It must be admitted that Hidroelectrica was the most important holding,” Angel said.

  • “Aeroporturi Bucharest (which is part of the FP portfolio) is a strong and interesting company when you think about it. This is a good barometer of the economy. We can also expect an IPO there, from which Fondul Proprietatea will emerge.”

“His assets are still interesting,” concludes Adrian Angel.

It will be recalled that Fondul Proprietatea sold its share in Hidroelectrica.

Which companies are included in the portfolio of Fondul Proprietatea: Aeroporturi Bucharest, Engie Romania, CN Administratia Porturilor Maritime, Societatea Națională a Sării, companies from the Enel group and others.