Croatia's Imperial Riviera proposes higher dividend for 2023

A total of 11.2 million euro of the company’s attributable profit of 11.8 million euro for 2023 will be retained and the remainder will be allocated to obligatory reserves, the company said in an invitation to its annual shareholders’ meeting.

Overall, it will pay 10.6 million euro in dividend for last year.

Ex-date is May 2, record date is May 3 and payment date is May 23.

The shareholders will vote on the proposal on April 26.

Last year, the company paid out a dividend of 2.07 euro per share out of its retained profits for 2019, 2021 and 2022.

Imperial Riviera is a joint company of pension fund management company Allianz ZB and hotel operator and owner Valamar Riviera [ZSE:RIVP] for investments and development of tourism assets.

Imperial Riviera's shares traded 4.76% higher at 110 euro on Wednesday afternoon on the Zagreb bourse.

($ = 0.923 euro)