Croatian paper packaging maker Bilokalnik-IPA plans to skip dividend for FY 21/22

Out of the the company's net profit of 2.7 million kuna ($359,000/359,000 euro) reported for fiscal year 2021-2022, almost 2.0 million kuna will be retained, while the remainder will be allocated to reserves, Bilokalnik-IPA said in an invitation for its annual shareholders' meeting.

The shareholders' meeting will take place on October 27.

Last year, the shareholders decided to retain 4.8 million kuna out of the company's net profit of 6.5 million kuna for fiscal year 2020-2021, and allocate the remainder to reserves.

The company's shares last traded at on the Zagreb bourse on June 14, closing 4.17% higher at 200 kuna.

(1 euro= 7.519 Croatian kuna)