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Croatia's Podravka plans to resume dividend payments after 10-year break

Author Maja Garaca
Croatia's Podravka plans to resume dividend payments after 10-year break Author: Podravka. License: All rights reserved.

ZAGREB (Croatia), March 23 (SeeNews) - Croatian food, beverage and drug producer Podravka said on Wednesday it plans to resume dividend payments after 10 years and distribute 7 kuna ($1/0.93 euro) per share from its 2015 net profit.

The company intends to direct 56.8 million kuna from its 2015 non-consolidated net profit of 156.97 million kuna to cover previous losses, and 5 million kuna towards legal reserves, while a portion of the remaining unallocated funds is planned to be distributed as dividend, Podravka said in a filing with the Zagreb bourse.

The dividend payment must be approved by the company's general shareholders' meeting.

The Croatian government owns a 25.4% stake in Podravka, while 42% are in the hands of local pension funds.

(1 euro=7.53941 Croatian kuna)

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