July 11 (SeeNews) - Croatia's hotel operator Turisthotel [ZSE:TUHO-R-A] said it will distribute a lower dividend this year, compared to 2018, which will be distributed in two tranches.
Turisthotel will allocate to dividend payment 21.1 million kuna ($3.2 million/2.9 million euro) from its 2018 net profit of 64.3 million kuna, the company said in a filing to the Zagreb Stock Exchange (ZSE) without providing the value of dividend per share.
The hotel operator will also use 10.2 million kuna from its 2016 retained profit to pay an additional dividend of 28 kuna per share.
In 2018, it also allocated to dividend payment 21.1 million kuna from its 2017 net profit of 79.6 million kuna without providing a figure for the dividend per share. Back then, it also used part of its 2016 retained profit, or 11.6 million kuna, to distribute an additional dividend of 32 kuna per share.
A total of 43.2 million kuna of the company's 2018 profit will be retained.
The decision for the distrubution of last year's profit was taken at the company's general assembly held on July 10.
The company's share capital is divided into 366,756 stocks of 580 kuna in par value each.
(1 euro = 7.39295 kuna)