Serbia's Metalac-Proleter to pay 13.5 euro per share gross dividend

An overall 190 million dinars will be paid out as dividend on 119,724 shares, Metalac-Proleter said in a statement with the Belgrade bourse on Thursday.

The remaining 382.6 million dinars will stay as retained earnings, the statement read.

The decision was approved by the company's shareholders on April 25.

Last year, Metalac-Proleter retained its entire 76.8 million dinars profit for 2022.

Metalac-Proleter has not yet published its 2023 financial report. Latest available financial data showed the company's net profit rose by an annual 58% to 7.3 million dinars in January-June 2023. Its retained earnings stood at 579.95 million dinars at the end of June.

In early March, Serbian blue-chip cookware manufacturer Metalac [BEL:MTLC] squeezed out the minorities at Metalac-Proleter, paying 5,109 dinars per each of the 1,436 targeted shares. As a result, Metalac now owns 93.07% of Metalac-Proleter, divided into 119,724 shares, while Metalac-Proleter holds the remaining 6.93% of its equity comprising 8,908 shares with no voting and dividend rights, data from Serbia's central registry of securities showed on Friday.

Metalac-Proleter's shares did not trade on the Belgrade bourse in the past year.

(1 euro = 117.164 dinars)