October 8 (SeeNews) - Croatia's Istarska Kreditna Banka [ZSE:IKBA] said on Friday it will propose to shareholders to distribute a dividend of 80 kuna ($12.3/10.6 euro) per share for 2020.
The dividend will be paid out from the bank's other reserves, the bank said in a filing to the Zagreb bourse.
The proposal has to be approved first by the company's supervisory board and then put to the vote at a shareholders' meeting scheduled for November 19.
Record date for the dividend is November 25, ex-dividend date is November 24, and payment date is December 6.
Last year, the bank announced plans to distribute a dividend of 75 kuna per share from its 2019 profit, up from the 70 kuna dividend it paid for 2018 but later on abandoned the plan and decided to retain the 2019 profit to comply with the central bank's new requirements regarding dividend distribution introduced due to the coronavirus crisis.
The bank's shares last traded on Thursday when they closed at 1,800 kuna, down 4.26%.
(1 euro = 7.515 kuna)