Business News

Krka to Pay Out EUR 47M in Dividends

Otocec, 07 July (STA) - Shareholders of drug maker Krka earmarked on Thursday over EUR 47m of EUR 168.9m in distributable profit from 2010 for dividends at EUR 1.40 gross per share. EUR 60.9m will go to provisions and the same amount will remain undistributed.

Krka CEO Joze Colaric noted that the dividend was 27% higher than last year, when it stood at EUR 1.10 a share.

The AGM extended the powers of the management as regards to the management of Krka's own shares. The management is authorised for the next three years to exchange Krka's shares in strategic takeovers, to help strategic partners and for the purposes of listing Krka on foreign stock markets.

Krka currently holds 5.22% of its shares, said Colaric, adding that the management has buyback powers for a stake of up to 10%.

Colaric also touched on Krka'a operations, saying that in the first half on 2011 the group increased sales revenues by 6% to EUR 529m.

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