Romanian Brewer Bermas Plans To Pay Lower 2008 Dividend

Bermas shareholders will vote on the move at a general meeting scheduled for December 7, the company said in a statement.

In April, the shareholders postponed the decision on the distribution of the 2008 earnings for later in the year.

Bermas reported a net profit of 917,000 lei in 2008, down from 2.6 million lei in the previous year. Turnover remained flat last year at 23 million lei.

Bermas shares closed up 8.18% at 0.595 lei on the Bucharest Stock Exchange on Thrusday.

Bermas, based in Suceava, in northeastern Romania, produces the Bermas Pils, Calimani and Suceava beer brands.

Its main competitors on the Romanian beer market are the Romanian arm of Dutch Heineken, Inbev Romania, the local unit of Belgium's Inbev, SABMiller's Ursus Breweries and United Romanian Breweries Bereprod, the local unit of Danish brewer Carlsberg.

(1 euro = 4.3027 Romanian lei)