ADRIS Grupa: It would be justified to refrain from paying out dividend

4 May 2020 — Andrei Victor
CROATIA's osiguranje shareholder - the Rovinj based consortium ADRIS Grupa - with businesses in tourism, real estate, tobacco and food industry announced that due the severity of economic circumstances in Croatia and the world, caused by the coronavirus epidemic, the company will focus on maintaining liquidity and cutting costs.

Therefore, "the Supervisory Board believes it would be justified to refrain from paying out dividend this year, thus the Supervisory Board will not propose the regular dividend payment to the General Assembly this year".

More than that, Ante VLAHOVIC, the President of the Management Board, ADRIS - has decided to waive his right to a bonus for results achieved in the previous year. He is proposing that the company redirects those funds towards the activities of the ADRIS Foundation in the next period.

ADRIS Grupa mentioned its Supervisory Board has accepted the Management Board's proposal to hold the General Assembly meeting when the epidemiological circumstances allow it, but "certainly within the legally required period".

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