Croatia: JANAF’s higher dividend for 2020

, SEE Energy News

At the general meeting held on 19 July, shareholders of Croatian oil transportation company JANAF approved the distribution of dividends from last year’s profit in the amount of some 10.9 euros/share.

Slightly more than a third of last year’s profit will be set aside for the payment of dividends. Typically, the company allocates half of its annual profit to reserves, while what remains of the other half after the dividend payment goes to the retained profit. Last year, the company distributed dividend in the amount of 9.8 euros/share. JANAF said that it has recorded a net profit in the amount of 38 million euros, which is 10 % higher compared to the previous year. The company’s total revenues amounted to 104.2 million euros in 2020, which is 10.6 % higher compared to 2019, while total expenditures also increased by 11.1 % to 65 million euros. Revenues from core business activities – oil transportation and storage of oil and petroleum products, amounted to 100.3 million euros, which is 14.3 % higher than in 2019.