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Bosnia's HM Cement BiH to pay lower dividend for 2023

May 28, 2024, 2:44:45 PMArticle by Dragana Petrushevska
share
May 28 (SeeNews) - Bosnia and Herzegovina's cement producer Heidelberg Materials Cement BiH d.d. Kakanj (HM Cement BiH) [SAJ:TCMKR], formerly known as Tvornica Cementa Kakanj, said on Tuesday it will pay out a dividend of 3.91 marka ($2.2/2 euro) per share for 2023, lower compared with the previous year.

Bosnia's HM Cement BiH to pay lower dividend for 2023
Tvornica Cementa Kakanj. Souce: Tvornica Cementa Kakanj

Shareholders of the company approved the dividend distribution proposal at a meeting held on May 23, HM Cement BiH said in a bourse filing.

The company distributed a dividend of 4.17 marka per share for 2022. Its net profit came in at 37.1 million marka in 2023, up from 17.7 million marka in 2022.

Its shares last traded on the Sarajevo stock exchange on May 23, when they closed 1.55% lower at 48.11 marka.

Earlier this year, Tvornica Cementa Kakanj underwent a name change to Heidelberg Materials Cement BiH. Heidelberg Materials announced on its website that the company, along with its subsidiaries in Bosnia and Croatia, underwent this renaming to consolidate operations under a unified brand name.

The cement producer is majority-owned by Dutch-based CEEM Investment, a unit of Germany's Heidelberg Materials.

(1 euro = 1.956 marka)

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