Croatia's Ledo to pay 25% of 2012 net profit in dividend

The company plans to pay up to half of its net profit as dividend starting from 2013, Ledo said in a statement posted on the website of the Zagreb Stock Exchange.

Ledo reported a net profit of 118.5 million kuna ($20.7 million/15.7 million euro) in the first nine months of 2012, up from 111.5 million kuna a year earlier.

Croatia's privately-held Agrokor owns 78.85% of Ledo.

Ledo said earlier this month it expects its consolidated net profit to post a compound annual growth rate (CAGR) of 11.3% over the 2012-2016 period.

(1 euro = 7.5404 Croatian kuna)