March 27 (SeeNews) - Slovenian insurer Sava Re [LJE:POSR] said it plans to distribute a dividend of 1.60 euro ($1.72) per share for 2022, up from last year's payout of 1.50 euro per share.
The company will pay as dividends a total of 24.8 million euro, or 36.3% of the 2022 consolidated net profit of Sava Insurance Group, while 13.8 million euro will be retained, Sava Re said in a filing with the Ljubljana Stock Exchange last week.
"The proposed dividend is a 6.7% increase from the dividend paid out for 2021," Sava Re said.
Sava Re said earlier last week that the consolidated net profit of the Sava Insurance Group fell by 10.4% to 68.2 million euro in 2022. The distributable profit of Sava Re for 2022 amounted to EUR 41.8 million euro.
($ = 0.92869 euro)