April 4 (SeeNews) - Slovenia's biggest insurer, Zavarovalnica Triglav [LJE:ZVTG], said on Tuesday it plans to pay a gross dividend of 2.5 euro ($2.7) per share for 2016, equal to a year earlier.
The company said in a statement it is proposing that 56.8 million euro, representing 69% of its net profit for 2016, be distributed as dividend.
The proposed dividend is in line with the dividend policy of Zavarovalnica Triglav, which is an integral part of the capital management policy of the Triglav Group, the company noted.
In the case of dividend payment in the proposed amount, the dividend yield of Zavarovalnica Triglav share according to the current data would be between 9% and 10%, which is one of the highest yields in both Slovenia and the global insurance sector, it said.
In March, Slovenia's biggest insurer reported a 7% drop in its consolidated net profit to 82.3 million euro in 2016, mostly due to lower investment returns.
($=0.9390 euro)