LJUBLJANA (Slovenia), April 6 (SeeNews) – State-controlled Telekom Slovenije [LJE:TLSG] said it plans to skip dividend payout for 2019, after distributing a gross dividend of 4.5 euro ($4.9) per share for 2018 last year.
Under the proposal, the company's overall distributable profit of 30 million euro for 2019 shall remain undistributed, Telekom Slovenije said in a statement with the Ljubljana bourse last week.
The proposal will be put to the vote at a general shareholders' meeting scheduled for June 5, the company said without giving reasons for the plan.
Last year, the company paid out as dividend an overall 29.3 million euro, or 4.50 euro per share, from its total distributable profit of almost 39 million euro for 2018. The remainder was carried over to this year.
Telekom Slovenije said last week that consolidated net profit increased by 13% to 27.4 million euro in 2019, without considering the impact of one-off events.
However, by taking into account one-off events related to the cost the company had to pay following an arbitration court ruling on the purchase of a 34% stake in Antenna TV SL, Telekom Slovenije's 2019 net profit amounted to just 1.2 million euro.
Telekom Slovenije's shares closed up 2.91% to 42.40 euro on the Ljubljana bourse on Friday. They did not trade at opening on Monday.
($=0.924830 euro)