Croatia: Lower dividends at INA

, SEE Energy News

In the first half of 2020, INA recorded a net loss in the amount of 128 million euros, compared to a net profit of 25 million euros recorded in the same period last year. Total revenues in H1 2020 dropped by 27.5 % and amounted to 985 million euros, while expenditures dropped by 15.5 % to 1.12 billion euros.

Shareholders of the Croatian oil company INA adopted the management’s proposal to distribute dividend for 2019 in the amount of 8.26 euros per share, which is two times lower compared to a dividend of 16.6 euros per share distributed last year.

The company will allocate 82.75 million euros for the dividend payout from its 87.2-million-euro profit in 2019. The remaining 4.36 million euros will go to reserves and some 12,000 euros will be allocated to retained earnings.