Podravka Proposes a Dividend of 7 Kuna per Share, the First in 10 Years

The Management and Supervisory Board of Podravka have proposed a dividend payment of seven kuna per share, which would be the first dividend after a ten-year hiatus, the company from Koprivnica announced on Wednesday.

The statement notes that meetings of the Management and Supervisory Board of Podravka d.d. were held on Tuesday, during which the revised financial statements of the Podravka Group and Podravka d.d. were established, as well as discussions on the use of profits of Podravka d.d. for the 2015 business year. Following the meetings, a dividend payment of seven kuna per share was proposed, as the profit of the Podravka Group for the previous year amounted to 397.3 million kuna, while Podravka d.d. achieved a net profit of 157 million kuna. This and other proposals were submitted to the General Assembly of the Company for decision-making.

– “I am pleased to emphasize that we are currently in a situation where, after a long ten years, we are making a proposal for the payment of a dividend. In recent years, we have undergone strong restructuring, recapitalized the company with significant fresh capital, initiated the second phase of internationalization, and launched operations in new markets,” stated Zvonimir Mršić, the CEO of Podravka, at the Supervisory Board meeting.

He noted that, in terms of acquisitions, Podravka has transitioned from a position of prey to a position of hunter, and that positive progress has been made at all levels of business, including financial indicators.

– “Today, the Podravka Group looks incomparably better compared to the period when we took over the management of the company. This is also thanks to all our shareholders who have supported us during this period, and by proposing the dividend payment, the company shows that their trust was fully justified,” said Mršić, adding that Podravka is facing a period of further development with the aim of creating the largest international company headquartered in Croatia.