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Pozavarovalnica Sava boards propose to lift regular dividend payment

The supervisory and management board of Pozavarovalnica Sava d.d. proposed to pay a dividend of 80 euro cents gross per share on its 2016 net profit.

The proposed per-share dividend, which is subject to approval at the company's annual general meeting, is 23% higher compared with the regular dividend paid on the 2015 profit and at the same level as the combined regular and extraordinary dividend payment offered for that year.

The company intends to pay out a total of €12.4 million to its shareholders, equivalent to 37.7% of its 2016 net profit. The proposed dividend record date is June 10, and the proposed dividend payment date has been set for June 20.

The proposal is in line with Sava's 2015 policy, which provides for earmarking around 30% of its annual consolidated net profit for dividend payments.