May 29 (SeeNews) - North Macedonia's lender Ohridska Banka [MSE:OHB] said on Friday that it will propose to its shareholders to skip dividend distribution for 2019.
The bank plans to set aside its total 2019 net profit of 238.5 million denars ($4.3 million/3.9 million euro) for investment purposes, Ohridska Banka said in a bourse filing.
The shareholders of the bank will vote on the proposal at a general meeting scheduled for June 30.
Ohridska Banka last distributed dividend in 2017, paying its shareholders a gross amount of 68 denars per share.
Its net profit plunged to 238.5 million denars in 2019 from 577.2 million denars in 2018.
Last year, Steiermarkische Bank und Sparkassen acquired a 91.5733% stake in Ohridska Banka in a buyout bid, including the 74.53% stake previously held by Societe Generale. The buyout offer was priced at 6,298.79 denars per share.
(1 euro = 61.72 denars)