April 8 (SeeNews) - Croatia Osiguranje [ZSE:CROS, CROS2], the country's top insurer, will propose to its shareholders to distribute a dividend of 116.37 euro per share on preferred and ordinary stock, or almost 50 million euro ($54 million) in total.
The company intends to pay out 37.35 euro per share from its retained profit for 2022, or a total of 16.04 million euro, it said in a filing to the Zagreb Stock Exchange.
In addition, it plans to distribute a dividend of 79.02 euro per share, or a total of 33.8 million euro, from its net profit of 46.9 million euro reported for 2023. Of the remaining profit for last year, some 13 million kuna will be retained and 4,000 euro will be allocated to mandatory reserves.
Record date is July 10, ex-date is July 9 and payment date is August 8.
Following the announcement of the planned dividend distribution, the Zagreb bourse put the shares of the insurer in the segment for monitoring.
Last month, the company paid out a dividend of 151.27 euro per share from retained profit from earlier years.
The company has operated successfully in the past couple of years with a rising level of profit and high rates of capital adequacy and expects that in 2024 it will maintain the capital adequacy ratio above 200%, it said in a filing to the Zagreb bourse.
Croatia Osiguranje’s ordinary shares traded flat at 1,190 euro on Monday afternoon. Its preferred shares last traded on March 3, ending 6.15% lower at 1,220 euro.
($ = 0.922 euro)
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