Business News

Dnevnik Shareholders Get Minimum Dividends

Ljubljana, 28 August (STA) - The shareholders of newspaper publisher Dnevnik endorsed a proposal Tuesday for dividend payments of 17 cents per share, down from EUR 4 last year, leaving the bulk of the EUR 2.3m in distributable profit untouched.

The shareholders did not want to bring Dnevnik into a situation where it would have to borrow in order to pay out high dividends, Bojan Petan, the chief executive of Dnevnik and its biggest shareholder, DZS, told the Wednesday edition of the daily Večer.

Dnevnik saw sales decline by more than 10% in 2012, to EUR 24.55m, as advertising revenue fell to EUR 5.9m from EUR 9m and revenue from newspaper sales declined marginally to EUR 18.4m.

Net profit for the year totalled EUR 635,000, up from EUR 500,000 last year, on the back of a reduction of labour and services costs.

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