Croatian Telecom (Reuters: HT.ZA; Bloomberg: HT CZ), Croatia’s leading telecommunications provider, in accordance with the Rules of the Zagreb Stock Exchange announces its audited financial statements and the proposal for the utilization of profit for the year 2021.
At its session held yesterday, the Supervisory Board of Croatian Telecom Inc. gave its approval to the audited annual financial statements of the Company and consolidated financial statements of the HT Group for the business year 2021 and informed the Management Board about its approval. As in accordance with Article 300d of the Companies Act and Article 31 of the Articles of Association of Croatian Telecom Inc., aforementioned financial statements are deemed adopted by the Management Board and the Supervisory Board and they will be referred to the General Assembly.
The Management Board and the Supervisory Board of Croatian Telecom Inc. propose to the General Assembly of the Company the distribution of the net profit from 2021 in such manner that a part of the net profit amounting to HRK 637,768,168.00 be used for the pay-out of dividend to shareholders in the amount of HRK 8.00 per share and that the remaining part of the net profit in the amount of HRK 28,362,006.38 be allocated to retained earnings.
The amount of HRK 8.00 per share represents a ratio of the dividend payment in relation to the realized profit of the Company of 95.8%. With respect to the last share price achieved yesterday amounting to HRK 186.00, this represents a dividend yield of 4.3%.
The General Assembly is planned to be convoked for 25 April 2022. In line with the proposal, aforementioned dividend will be paid out on 16 May 2022 to all shareholders who are entered in the depository of the Central Depositary & Clearing Company (SKDD) on 5 May 2022 (record date). The date on which the securities of Croatian Telecom Inc. will be traded without the dividend payment right is 4 May 2022 (ex-date).
Management Board currently expects a minimum dividend of HRK 6.00 per share for the year 2022. The Management Board will monitor the movements of parameters that could influence the dividend amount and decide accordingly.