September 9 (SeeNews) - Croatian detergent and cosmetics producer Saponia [ZSE:SAPN] said on Friday it will propose to its shareholders to skip dividend payment for the last year.
The company's net profit of 7.9 million kuna for last year will be allocated to other reserves, it said in a filing to the Zagreb bourse.
The shareholders will vote on the proposal on October 14.
Last year, they decided to use 16.1 million kuna out of its profit of 66.7 million kuna for 2020 to cover losses and to allocate the remaining 50.6 million kuna to the company's other reserves.
Saponia's shares traded 1.25% lower at 790 kuna on Friday on the Zagreb bourse.
(1 euro = 7.523 kuna)