Croatia's Ericsson Nikola Tesla reverses decision to skip dividend

The proposal, made by the company's management and supervisory board, will be put to the vote by the company shareholders on December 9, Ericsson Nikola Tesla said in a statement, providing no further details.

Ericsson Nikola Tesla distributed a dividend of 70.6 kuna per share last year.

In June, the shareholders decided in June to retain the entire profit of 95.6 million kuna reported for 2019.

Sweden's Ericsson owns 49.07% of the Croatian company.

Ericsson Nikola Tesla's shares traded up 2.24% at 1,370 kuna by 12:29 CET on Thursday on the Zagreb bourse.

(1 euro = 7.56595 kuna)