Business News

Krka pays out 10% higher dividend than last year

Novo Mesto, 04 July (STA) - The shareholders of the pharmaceutical company Krka decided on Thursday that EUR 101.66 million out of last year's distributable profit of EUR 189.47 million be allocated for dividends at EUR 3.20 gross per share. This is a 10.3% increase compared to last year's dividend.

The original proposal was that EUR 101.84 million is paid out for dividends, but the meeting representing 54.95% of the company's capital accepted a slightly different proposal from chairman Jože Colarič.

Colarič explained that the payout lower by EUR 180,000 was only a technical correction and that it would not affect the amount of the dividend per share.

Originally it was envisaged that EUR 43.82 million in distributable profit will be allocated for other reserves from profit, and almost the same amount to be transferred to the next year.

Colarič meanwhile proposed that both amounts be raised to EUR 43.9 million, which was accepted by the shareholders. The dividends will be paid out as of 18 July.

Asked whether he expected the dividends to continue to increase in the following years, Colarič said that the company's strategy envisaged that at least 50% of profit would be paid out as dividends.

"We have had the approach of slightly increasing the dividend. Of course, good results are a must for such increase. We will make the effort for the result to be always favourable," he added.

The shareholders also granted discharge of liability to the management and supervisory boards for last year.

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