Croatia’s Jadran to skip dividend payment

The company’s net profit of 2.7 million euro for 2023 will be used to cover losses from earlier years, it said in an invitation for annual shareholders’ meeting filed to the Zagreb bourse.

Its shareholders will vote on that proposal on July 8 as its headquarters in Crikvenica on the northern Croatian Adriatic coast.

Last year, the company decided to use its net profit of 37.6 million kuna ($5.3 million/4.9 million euro) for 2022 to cover losses from earlier periods.

The company’s shares were the biggest daily gainer on the Zagreb bourse on Tuesday afternoon as they traded 7.14% higher at 1.50 euro.

($ = 0.921 euro)