August 30 (SeeNews) - Croatian oil pipeline operator Janaf [ZSE:JNAF] said it will pay a dividend of 85.9 kuna ($12.8/11.6 euro) per share from its 2018 net profit, after skipping dividend a year earlier.
The company will thus distribute as dividend 86.6 million kuna from its 303 million kuna profit for 2018, it said in a Zagreb bourse filing on Thursday.
Half of the total profit typically goes to reserves, while the remainder of the other half after the dividend payment will be retained, Janaf added.
The shareholders approved the 2018 profit distribution at their meeting on August 29.
Last year, Janaf allocated to reserves half of its 291 million kuna profit for 2017 and retained the other half.
Janaf's shares last traded on the Zagreb bourse on August 8, when they closed 0.46% higher at 4,400 kuna.
Croatia's state assets ministry owns some 52% of Janaf capital, followed by the government's centre for enterprise restructuring and privatisation, CERP, with some 26% and energy firm INA with 11.8%, while the remainder belongs to smaller shareholders.
Janaf has crude oil and oil products terminals on the island of Krk, as well as in Omisalj, Sisak, Virje, Slavonski Brod and Zitnjak. It operates 622 kilometres of pipelines.
(1 euro = 7.40202 kuna)