Croatian Telekom Announces Dividend of Eight Kuna per Share

Croatian Telekom (HT) plans to distribute a significant portion of last year’s net profit, amounting to 637.77 million kuna, to shareholders as a dividend, which would be eight kuna per share, the same as last year, HT announced today, stating that the general assembly, scheduled for April 25, should decide on this matter.  

In a statement via the Zagreb Stock Exchange, HT indicated that the Supervisory Board approved the revised annual financial statements of HT and the consolidated financial statements of the HT Group for 2021 at yesterday’s meeting. 

The Management and Supervisory Board of HT propose to the general assembly the distribution of net profit from 2021 in such a way that part of the net profit amounting to 637.77 million kuna is used for the payment of dividends to shareholders in the amount of eight kuna per share, while the remaining part of the net profit amounting to 28.36 million kuna is allocated to retained earnings, reported the largest Croatian telecommunications company.

HT also paid a dividend of eight kuna per share to shareholders last year. 

As stated in today’s announcement, the amount of eight kuna represents a dividend payout ratio relative to the company’s earnings of 95.8 percent, and at yesterday’s last share price of 186 kuna, this represents a dividend yield of 4.3 percent.

The amount of the dividend must be decided by HT shareholders at the general assembly, which is scheduled for April 25. 

The dividend of eight kuna per share will be paid on May 16 to all shareholders registered in the Central Clearing Depository (SKDD) as of May 5, 2022 (record date). The date from which the company’s shares will be traded without the right to dividend payment is May 4, 2022 (ex date), HT announced in today’s statement.

– For 2022, the Management currently expects a dividend payment of at least six kuna per share. The Management will monitor the effects of various parameters that may impact the dividend movement and propose the final amount – concludes HT’s announcement.