Croatia's Podravska Banka proposes 4.5 euro dividend per share

Overall, some 3.0 million euro out of bank’s net profit 4.0 million euro for 2023 will be paid as dividends, it said in a filing to the Zagreb bourse.

Ex-date is May 6, record date is May 7 and payment date is June 7. The shareholders will vote on the proposal on May 7.

Last year, shareholders decided to skip dividend payment and the bank’s net profit of 12.2 million kuna ($1.8 million/1.6 million euro) for 2022 was allocated to its reserves.

Italy's Assicurazioni Generali is the largest single shareholder in Podravska Banka with a 9.54% stake, followed by Italy's Cerere with 9.53% and Croatian individual Miljan Todorovic with 8.33%, bourse data showed. The remainder is distributed among smaller shareholders.

Podravska Banka's shares surged 9.38% to 49 euro intraday on Wednesday.

($ = 0.924 euro)