ZAGREB (Croatia), May 27 (SeeNews) – Croatian pharmaceuticals distributor Medika [ZSE:MDKA-R-A] said it plans to skip the payment of dividend this year.
The company is proposing to retain its entire 57 million kuna ($8.2 million/7.5 million euro) net profit reported for 2019, it said in a statement on Tuesday.
The shareholders of Medika will vote on the proposal on August 27.
Last year, Medika retained its 20 million kuna net profit reported for 2018 but distributed a dividend of 700 kuna per share from its retained earnings.
The company's shares closed 1.86% higher at 16,400 kuna on the Zagreb Stock Exchange on Tuesday. They did not trade at opening on Wednesday.
(1 euro = 7.58571 kuna)