BRATISLAVA, August 5, (WEBNOVINY) — Government revenue from dividends this year should be about 141 million euros higher than originally expected. Government’s privatization agency the National Property Fund (FNM) has updated this year’s expected income from dividends from the original EUR 298.2 million to EUR 439.1 million. This figure however is still only preliminary. „Currently, the FNM does not expect a further increase of this item, but the final amount of paid dividends will be decided by shareholders at general meetings of the companies, which will be held in 2011. This means that the FNM will know the real volume of dividends after this period,“ the FNM says.
Next year, the FNM expects revenues from dividend of EUR 396.5 million. However, it also notes that in case of privatization, this amount may be lower. If the government decides to sell assets from which the payment of dividends has been included into this item, there will be a shortfall of revenue, which will affect the amount the FNM will transfer to the account of government financial assets, which is decided-upon by the Cabinet and parliament,“ the FNM remarks.
The dividends the FNM receives are transferred to government financial assets. The FNM therefore had to elaborate a supplement to the proposal for use of its property, in which it increased the originally approved scope of use of property this year by aforementioned amount. Proposal for use of the revenue still needs to be approved by the Cabinet and subsequently by parliament.
The FNM has also modified the expected revenue and expenditure balance for 2011. Total expected revenue, including cash balance from the previous period, should reach EUR 695.190 million. Quantified commitments and budgeted expenditures of the FNM this year are to reach EUR 635.855 million. This year’s surplus would be EUR 59.335 million. „As currently the FNM has no income other than from dividends, which it transfers in full to the government financial assets, it plans to settle its liabilities in the following period, i.e., from 2012 to 2014, or until its wound down from this surplus,“ the FNM suggests.
SITA
