12.10.2020
Hrvatski Telekom shares become part of the Prime Market on the Zagreb Stock Exchange
On October 12, 2020, the Management Board of the Zagreb Stock Exchange Inc. passed the Decision approving the transition of 80,766,229 ordinary shares of Hrvatski Telekom from the Official to Prime Market of the Zagreb Stock Exchange. The transition to the Prime Market and the first trading day with HT's shares on the Prime Market will take place on October 14, 2020.
“Being listed on ZSE's Prime Market is the latest confirmation of the highest level of corporate governance we operate by. Along with the fact that Hrvatski Telekom is the largest private investor in Croatian digitalization, and Hrvatski Telekom shares are one of the most liquid shares on the market, entering the Prime market is also a move welcomed by the investor community as it not only testifies to our 'blue-chip' status but also strongly signals that HT shares are a valued and prudent long-term investment", said Daniel Daub, Chief Financial Officer of Hrvatski Telekom.
“We are delighted to greet Hrvatski Telekom d.d. as this year’s first issuer in the Prime Market, especially with Hrvatski Telekom d.d share being immensely significant for the domestic capital market. It is a share that has been one of the largest market liquidity generators since its listing in 2007. With this the Prime Market has gained additional importance. We welcome HT's desire to formalize its commitment to the highest levels of transparency and good corporate governance by joining the most demanding market segment of the Zagreb Stock Exchange”, stated Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange.
Pursuant to Article 141 of the Zagreb Stock Exchange Rules, prior to the start of trading with HT's shares on the Prime Market, Hrvatski Telekom hereby publishes the Dividend Policy of the Company which was set out in the initial public offering prospectus in October 2007:
“Any future dividend voted and paid in relation to any year, will amount to 50% to 100% of the distributable profit of the Company acquired in the previous year. Any annual dividend shall depend on the overall financial position of the Company, and its working capital needs at the relevant time (including but not limited to the Company's business prospects, cash requirements, financial performance, and other factors including tax and regulatory considerations, payment practices of other European telecommunications operators and general economic climate).
As of 2016, a minimum target dividend for each year is being announced at the beginning of the year, within the range determined by the dividend policy, i.e., from 50% to 100% of the Company's distributable profits, dependent on the overall financial position and working capital requirements.”
In March 2020, HT announced that the Management Board expects a minimum dividend of HRK 6 per share for the financial year 2020.