August 17 (SeeNews) - Croatian hotel owner Imperial Riviera [ZSE:HIMR] said it will propose to its shareholders to pay a divided of 34.92 kuna ($4.7/4.7 euro) per share this year from its retained profit from earlier years.
Overall, 79.6 million kuna from the company's retained profits for 2016, 2017, 2018 and 2019 will be paid out to shareholders as dividend, the company said last week in a filing to the Zagreb bourse.
The shareholders will vote on the proposal on September 22.
Ex-divided date is September 27, record date is September 28 and payment date is September 29.
Imperial Riviera's shareholders decided in May to retain 14.9 million kuna out of the company's net profit of 15.7 million kuna for 2021, and to allocate to reserves the remaining 783,300 kuna.
The hotel operator last distributed dividend in 2019 when it paid out 17 kuna per share.
Imperial Riviera is a joint company of hotel operator and owner Valamar Riviera [ZSE:RIVP] and pension fund management company Allianz ZB for investments and development of tourism assets.
Imperial Riviera's shares last traded on Tuesday, ending flat at 835 kuna.
Valamar's shares traded at 33.50 kuna intraday on Wednesday on the Zagreb bourse, up 0.60%.
(1 euro= 7.506 Croatian kuna)