VLAHOVIC: We will not pay the dividend in order to save ADRIS in the long run

20 July 2020 — Andrei Victor
Taking into account the current global economic situation due to pandemic, it is crucial to maintain liquidity and investment potential and preserve jobs, Ante VLAHOVIC, President of the Board of the Croatian ADRIS Grupa - CROATIA's osiguranje shareholder stated at the group's latest GM.

"In early 2020, the world was hit by the strongest economic crisis since World War II. The Croatian economy has also been hit hard and recovery will be difficult. That is why, for the year in which we achieved one of our best results, we have proposed not to pay the dividend in order to save ADRIS in the long run," VLAHOVIC said, adding that it is crucial to preserve liquidity and the investment potential and adapt Adris to the new circumstances - due to which, among other things, organisational changes were made and a new rulebook on corporate governance was adopted.

"Dear shareholders, if we are now less satisfied due to these unexpected circumstances and the resulting non-payment of dividends, I am convinced that this proposal is an important step towards our new growth. I believe in that!," said VLAHOVIC at the end of his presentation.

"ADRIS is an investment and management company with an increased emphasis on corporate social responsibility. Our goal is to create value in the long run, create new jobs and benefits for shareholders and the community in which we operate. In the last fifteen years, the company has undergone a process of complete transformation and restructuring, so today ADRIS manages a balanced portfolio of sustainable businesses. ADRIS has good companies in good industries and our capital is well distributed!" VLAHOVIC said.

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