Slovenia's Sava Re shareholders endorse 1.75 euro p/s dividend

The shareholders approved a dividend payout of 27.1 million euro from the profit for dividends, Sava Re said in a filing with the Ljubljana Stock Exchange on Monday.

In April, Sava Re announced that its total dividend payout for 2023 will amount to 42% of the group's net profit for the year, representing a 9.4% increase compared to the dividend distributed for 2022.

The remaining part of the balance sheet profit of 30.4 million euro remains undistributed and represents retained earnings, Sava Re said last month.

The consolidated net profit of the Sava Insurance Group grew to 64.7 million euro in 2023 from 46.9 million euro in the previous year, as business volume increased by 14.4% to 910.1 million euro in 2023, driven by growth in non-life and life gross premiums written.

($ = 0.91921 euro)