The shareholders approved the allocation of the 2019 profit of HRK 124.5m to retained earnings, which implies no dividend payment in 2020.
Arena Hospitality Group held their GSM in which the shareholders approved the profit distribution for the year 2019. The shareholders approved the allocation of the 2019 profit of HRK 124.5m to retained earnings, which implies no dividend payment in 2020. On 27 July Arena published a call for General Shareholders Meeting when it announced that its 2019 profit will be distributed to retained earnings. In its 2019 audited report the company said that it is outlined in their dividend policy, going forward the company will take into account the business performance, future investment plans and overall business environment when considering the payment of dividends.
As a reminder, in 2019 Arena Hospitality Group paid a dividend of HRK 5 per share, while dividend yield was 1.5% (compared to the share price a day before the dividend proposal). Dividend payout has amounted to HRK 25.6m, which translated into a payout ratio of 29%. General Assembly of the company was held on 30 April 2019 and the decision on dividend payment was adopted, under which a dividend of HRK 5.00 per share was paid out from part of the retained earnings from 2017.