In respect of very ambitious growth plans, the Dividend Policy of the Company is based on the concept by which the major part of the earnings accomplished in the business year is retained within the Company for the purpose of its investment in the development of the Company.
Dividend Policy of the Company will be implemented in accordance with the development plans and the situation on the capital market, as well as according to the growth of the net profit, revenue levels, expected increase of the property value of Atlantic Grupa, and other relevant factors. When the mentioned conditions are met, it is Company's intention to pay out up to 45% of consolidated profit as the dividend to the Company's shareholders.
Proposals of the Management Board and the Supervisory Board for the distribution of the dividend reflect such policy, whereas the adoption of the final decision on the amount and the manner of the distribution of dividends is in the authority of the General Assembly of the Company.
According to the Articles of Association of the Company and valid regulations, during a business year, the Management Board is authorised to pay out an advance on the dividend to shareholders from the anticipated part of the net profit, with prior consent of the Supervisory Board. The maximum of half of the amount of profit, reduced by the amounts which have to be allocated to the company reserves pursuant to the law and the Articles of Association, may be paid for the purpose of an advance. The payment of an advance on the dividend may not exceed 50 (fifty) % of the last year’s profit.
Persons entitled to the dividend are determined according to the valid laws and relevant practice of the Republic of Croatia.
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