The EUR 3.19 dividend per share will be the second year in a row that dividends amounting to the core bank's entire profit will be paid out; last year the state got EUR 43.8m.

The payout is in accordance with the restructuring plan cleared by the EU which limits dividend payments to the level of net profit posted by the core Slovenian business.

The decision means EUR 81.5m will be set aside for reserves.

The proposed dividend payout was made at a supervisory board session in the morning, which was immediately followed by the shareholder meeting.

The supervisors also took note of the ongoing privatisation procedure. It said in a statement that it was proceeding according to the agreed timeline and proposals by the consultants.

This means that the Slovenian Sovereign Holding (SSH) will publish an intention to sell after the release of the bank's audited results, which will be followed within two weeks by a prospectus for an initial public offering.

Slovenia pledged to sell 75% of NLB minus one share in exchange for EU clearance of the bank bailout programme in 2013.

In mid-March SSH conducted the first roadshow to gauge interest among potential investors and determine a price range.

Several media reports suggest the government wants the offers to hit around the book price, or roughly EUR 1.2bn, but the interest was roughly 20% lower.

Slovenia spent EUR 1.55bn bailing out the bank in 2013.