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Croatia's CIAK to retain 2020 profit

Author Annie Tsoneva
Croatia's CIAK to retain 2020 profit Car parts; Source: Pixabay

ZAGREB (Croatia), June 24 (SeeNews) – The shareholders of Croatian car parts and accessories distributor CIAK Grupa d.d. [ZSE:CIAK] decided on Thursday to skip dividend distribution this year.

The shareholders decided at their annual meeting to retain some 126,000 kuna ($20,000/16,800 euro) out of the 133,100 kuna profit distributable for 2020, and allocate the remainder to reserves, CIAK said in a filling with the Zagreb bourse.

Figures for the company's dividend payments in previous years are not comparable as the company carried out a major business consolidation and went public at the end of last year through an initial public offering, in which it raised 222 million kuna, marking the largest IPO in Croatia in the last three years.

CIAK's main line of business is the distribution of car parts, car batteries and motor oils; waste management and recycling; and wholesale.

Its shares last traded on the Zagreb bourse on June 14, closing flat at 35.40 kuna.

(1 euro = 7.4971802 kuna)