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Slovenia's Melamin to skip dividend

Jun 24, 2024, 4:47:48 PMArticle by Radomir Ralev
share
June 24 (SeeNews) - Slovenian chemicals company Melamin's [LJSE:MKOG] shareholders have approved a proposal to skip dividend payment this year.

Slovenia's Melamin to skip dividend
Source: Melamin

The company’s balance profit of 5.4 million euro ($5.8 million) for 2023 will be kept in reserves, Melamin said in a filing to the Ljubljana Stock Exchange last week.

Melamin turned to a net profit of 1.1 million euro in 2023 from 1.8 million euro net loss in the previous year.

In May 2022, a human error during the pumping of raw material caused an explosion at the factory of Melamin in Kocevje. The company expects the reconstruction to take up to 18 months and estimates the damage caused by the accident at above 30 million euro.

( $= 0.93134 euro)

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