The proposal is subject to approval at the GSM, which will be held on 1 June 2021.

Končar published the convocation to the GSM in which the Management board of the company proposed that the retention of the net profit of the parent company in the amount of HRK 6.8m, implying no dividend payment. As a reminder, the company did not pay out a dividend in 2020 as well.

The proposal is subject to approval at the GSM, which will be held on 1 June 2021.

We note that we have estimated a dividend payment in 2021, given a quite a solid 2020 result and a high cash position both within the Group and the parent. However, we understand such a decision under an assumption of a larger CAPEX cycle or a potential M&A.

In the graph below, we are bringing you a historic overview of the company’s dividend per share and dividend yield.

Dividend per Share (HRK) and Dividend Yield (%) (2015 – 2019)