March 23 (SeeNews) - Croatian hotel owner and manager Arena Hospitality [ZSE:ARNT] said on Thursday it will propose to skip dividend payment this year.
The company’s net profit of 7.0 million euro will be allocated to reserves, it said in an invitation for its annual shareholders’ meeting on April 27 filed to the Zagreb bourse.
Last year, Arena’s shareholders decided to retain its net profit of 53 million kuna ($7.7 million/7.0 million euro) for 2021. For the last time, the company paid a dividend of 5 kuna ($0.71/0.66 euro) per share in 2019.
Arena owns, co-owns, leases, operates and develops full-service upscale, upper upscale and lifestyle hotels, self-catering holiday apartment complexes and campsites in Croatia, Germany, Hungary, Serbia and Austria.
Its shares are part of the both main equity indices of Zagreb bourse. They traded flat at 35.60 euro intraday on Thursday on the bourse.
($ = 0.918 euro)