May 14 (SeeNews) - Croatian telecommunications equipment manufacturer Ericsson Nikola Tesla [ZSE:ERNT] said on Thursday it plans to skip the payment of dividend in 2020.
The company will propose to its shareholders to retain its 95.6 million kuna ($13.6 million/12.6 million euro) net profit reported for 2019, it said in a statement with the Zagreb bourse.
Its shareholders will convene to vote on this and other items on June 26, the statement read.
In 2019, Ericsson Nikola Tesla paid a dividend of 70.6 kuna per share, more than the 32.5 kuna distributed a year earlier.
Sweden's Ericsson owns 49.07% of the Croatian company.
Ericsson Nikola Tesla's shares did not trade on the Zagreb bourse by 13:27 CET on Thursday, after closing down 1.71% at 1,150 kuna on Wednesday.
(1 euro = 7.57422 kuna)