March 26 (SeeNews) - Croatian dairy products maker Dukat [ZSE:LURA] said it is proposing to pay a dividend of 20 kuna ($2.87/2.63 euro) per share this year, considerably lower than last year's 160 kuna per share.
The proposal will be put to the vote at an April 28 shareholders' meeting, Dukat said in a statement with the Zagreb bourse on Wednesday.
The date of record is set for May 5, 2020, with the ex-dividend date being May 4, while May 27 will be the dividend payment day, the statement read.
Under the proposal, an overall 60 million kuna will be distributed as dividend from Dukat's retained profit generated back in 2007.
At the same time, the shareholders will vote to retain the whole of its 2019 net profit which totalled 28.4 million kuna.
Last year, Dukat distributed as dividend an overall 480 million kuna, including its complete 36.8 million kuna net profit reported for 2018 and a further 443.2 million kuna from its retained profit from previous years.
B.S.A. International, a unit of French multinational dairy products corporation Lactalis, owns 93.69% of Dukat, while the remainder belongs to smaller shareholders, bourse data showed.
Dukat's shares last traded on the Zagreb bourse on March 16, closing down 23.08% at 510 kuna. They did not trade at opening on Thursday.
(1 euro = 7.61069 kuna)