Business News

Fotona to Pay Generous Dividends

Ljubljana, 02 July (STA) - Fotona, a state-owned company specialising in laser technology, will pay out EUR 3m to shareholders and workers in accordance with a decision confirmed Tuesday by the company's principal shareholder, the state-owned PDP.

The management had proposed only EUR 400,000 in dividend payments, but PDP submitted and then voted on a counter-proposal which in effect means the company's entire profits will be distributed.

EUR 2.5m will go to shareholders and half a million euros to workers in accordance with the company's internal rules on workers' participation in profit.

Fotona chairman Matjaž Lukač told the STA the payout would affect the company's development plans.

The decision comes after the government placed Fotona on a list of 15 companies it plans to privatise as a matter of priority.

Lukač said the company supported privatisation, saying it was crucial for the company to have a level of certainty as regards ownership.

Fotona started out as a maker of military technology but has refocused on medical technology in recent years.

It says it currently makes 7% of all dermatological lasers in the world and 27% of lasers used in dental medicine.

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