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Zito Shareholders Allocate EUR 1.52M for Dividends

Ljubljana, 27 May (STA) - The shareholders of bread and pasta maker Zito allocated on Friday EUR 1.52m for dividends, at EUR 4.3 per share, out of EUR 25.99m of distributable profit from 2010. The rest will remain undistributed, Zito said in a press release.

The dividends will be higher than proposed by the management and supervisors, who wanted dividends at EUR 3.50 per share. The endorsed price was proposed by an association of small shareholders.

The AGM granted liability discharge to the management and the supervisors of the company for their work in 2010, and appointed two new supervisors.

The shareholders were also acquainted with the consolidated business report of the Zito company and group for 2010, the audit report and the supervisors' report about the fulfilling of the business plan for 2010.

Zito generated EUR 105.3m in revenues in 2010 and EUR 2.5m in net profit. The main goals of the group for 2011 is to reverse the negative trend in sales and increase net profit to EUR 3.3m.

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