Zavod VZMD proposed a dividend payment of EUR 2.5 per share, compared to initially no dividend payment proposed by the Management Board. Dividend yield is 6.8%.

NLB received a counterproposal by the shareholder Zavod VZMD (Pan-Slovenian Shareholders’ Association) regarding the dividend payment in 2020. Zavod VZMD proposed a dividend payment of EUR 50m or EUR 2.5 per share, compared to initially no dividend payment proposed by the Management Board. The newly proposed dividend translates into a yield of 6.8%.

Note that the Bank of Slovenia has temporarily banned banks from paying dividends for a year, so we do not see the dividend payment as going through on the GSM.