November 7 (SeeNews) - Croatian paper packaging manufacturer Bilokalnik-IPA [ZSE:BLKL] proposed to its shareholders to skip dividend payment for fiscal year 2022-2023 ended on April 30, it said on Tuesday.
Of the company's net profit of 1.5 million euro ($1.6 million) reported for fiscal year 2022-2023, 1.1 million euro will be retained, while the remainder will be allocated to reserves, Bilokalnik-IPA said in an invitation for its annual shareholders' meeting.
The shareholders' meeting will take place on December 15.
Last year, the shareholders decided to retain almost 2.0 million kuna ($283,000/265,000 euro) of its 2.7 million kuna profit for fiscal year 2021-2022, and allocate the remainder to reserves.
The company's shares last traded at on the Zagreb bourse on August 3, closing flat at 40 euro.
($ = 0.937 euro)