ZABA Approves No Dividend Payment

The approval is in line with the CNB’s temporary restriction on dividend payment until 31 Dec 2021.

ZABA held its GSM yesterday in which the shareholders approved the retention of 2020 net profit, therefore implying no dividend payment. The profit of HRK 734.5 will be distributed to retained earnings.

As a reminder, following the negative consequences of the COVID-19 pandemic, the Croatian National Bank adopted on 14 January 2021 a Decision on temporary restriction of distribution according to which banks temporarily, until 31 December 2021, may not pay a dividend or create a dividend payment obligation.

The Croatian National Bank will review the existence of reasons for this restriction by 30 September 2021 at the latest may, depending on that assessment, lift the duration of the temporary restriction before 31 December 2021.

In line with the above mentioned, the Bank approved that the net profit realized in 2020 be fully allocated to retained earnings. As a reminder, the bank did not pay a dividend in 2020 as well. We also note that the bank operated with a very high CET 1 of 33.2%, as of end 2020.

Dividend per Share (HRK) & Dividend Yield (%) (2012 – 2021)

Category : Flash News

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