May 10 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) [ZSE:3JDG2] said on Wednesday it has proposed to its shareholders to distribute a dividend of 3.0 euro ($3.3) per share out of its retained profits for 2009 and 2010.
A total of 4.7 million euro from the company’s net profit of 15.7 million euro for 2022 will be allocated to mandatory reserves and the remaining 10.9 million euro will be retained, the company said in a filing to the Zagreb bourse.
The dividend payout will be distributed half in cash and half in JGL shares. Ex-dividend date is July 3, record date is July 4, and payment date is July 19.
JGL's shareholders will vote on the proposed dividend payout on June 19. Last year JGL distributed a dividend of 14 kuna per share.
Founded in 1991, JGL is one of the largest drug makers in Croatia, specialising in the production of sterile nose, eye and ear drop solutions. JGL operates in some 60 markets around the world.
The company has corporate bonds listed on the Zagreb Stock Exchange.
($ = 0.913 euro)