Croatia's INA Plans Dividend of 15 Kuna (1.98 Euro)/Share

Croatian oil and gas company INA said on Wednesday it plans to pay a dividend of 15 kuna ($2.2/1.98 euro) per share.

The company plans to distribute as dividend 150 million kuna from retained earnings, it said in a filing to the Zagreb bourse.

The proposal will be put to a vote at a general assembly scheduled for June 12.

INA, which paid no dividend for 2013, saw its consolidated loss rise 26% to 1.9 billion kuna in 2014 due to the fall in oil prices and further impairment of its investments in Syria.

The Zagreb-based INA Group employs over 13,000 and abroad has oil and gas exploration and production operations in Angola and Egypt.

Hungarian oil and gas group MOL owns 49.08% of INA and the Croatian government controls a further 44.84%. In September 2013, the two sides launched talks to renegotiate the terms for the company's management.

Source: SeeNews