Four shareholders of N. Macedonia's Granit seek higher dividend

The proposal was made by individual shareholders Vlade Velinovski, Danco Masev and Lence Maseva and real estate company Nova Stokovna Kuka, together holding 153,569 Granit shares, representing a 5% stake, Granit said in a bourse filing last week.

The shareholders consider that a higher dividend payment is justified due to the stable, solvent and liquid financial position of the company, they said in the proposal.

Granit shareholders will vote on both proposals at a meeting on May 23.

Granit distributed a gross dividend of 36 denars per share for 2022.

The company's net profit rose 15% on the year to 152.5 million denars in 2023.

Granit's shares traded at an average price of 1,340 denars on the Macedonian Stock Exchange (MSE) on Thursday.

Granit was established in 1952 and privatised in 1996. Its main activities include construction and rehabilitation of roads. The company owns several concrete and asphalt plants and stone quarries.

(1 euro = 61.70 denars)