Croatia's Janaf to pay 7.5% lower dividend for 2021

Croatian oil pipeline operator Janaf said on Friday it will propose to its shareholders to distribute a dividend of 75.36 ($10.6/10 euro) per share for 2021, down from a dividend of 81.49 kuna per share the company paid out for 2020.

Ex-dividend date is July 26, record date is July 27, payment date is August 1, the company said in a filing to the Zagreb bourse.

The company plans to distribute as dividend 75.9 million kuna out of its net profit of 266.4 million kuna reported for 2021.

Some 50.5 million kuna of the profit will be retained, in line with Janaf's long-term strategy to diversify into renewable energy projects, and the remaining 126.6 million kuna will be allocated to the company's reserves.

The shareholders will vote on the proposal on July 20. Last year, they decided to distribute 82.1 million kuna in dividend out of the company's 288 million kuna net profit for 2020.

Janaf's shares flat at 6,500 kuna intraday on Friday on the Zagreb bourse.

(1 euro = 7.522 Croatian kuna)

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