Business News

Pharma Company Krka to Pay Out EUR 1.61 Dividend per Share

Otočec, 04 July (STA) - The shareholders of Krka decided on Thursday that the pharma company will pay out dividends for last year at EUR 1.61 gross per share, endorsing the proposal for a lower dividend from the management. The company will allocate EUR 53.1m total for dividends.

Societe Generale - Splitska banka and Hypo Alpe Adria banks, which own a combined 5.5% stake in Krka, had proposed EUR 2.50 gross per share, nearly double last year's dividend.

As the distributable profit of Krka for 2012 stands at EUR 177.9m, the remaining EUR 124.8m will be allocated for other reserves from profit.

Krka CEO Jože Colarić announced at the AGM in Otočec that the company's strategy for the 2014-2018 period would involve higher dividends for 2013 as the management is to allocate more than a third of the profit to shareholders.

The plans to invest a total of EUR 182m this year. It is currently building a EUR 200m drug production plant in Novo mesto and a new facility in Russia.

Employing 9,839 people, Krka posted revenue of EUR 597.1m in the first half of 2013, 6% more than in the same period last year.

Sales on foreign markets represented 93% of total sales, with Eastern Europe being the most important market.

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