The Slovenia Times

Perutnina to increase dividend payout five-fold before takeover


SIJ, which holds nearly 91% in the poultry producer, initially intended to earmark EUR 1.82m of the EUR 14.65m in distributable profit for 2017 for dividends.

After it became clear that Perutnina Ptuj will likely be sold, the shareholders decided to pay out significantly higher dividends, although not as high as proposed by the small shareholders.

Kristijan Verbič, the head of the small shareholders' association VZMD, told the STA that they had proposed that dividends of EUR 1 gross per share be paid out, but were unsuccessful. Instead, SIJ proposed and endorsed the EUR 0.84 dividend.

Additionally, the shareholders adopted changes to articles of association to transform the management board. The two board members will now make decisions unanimously.

SIJ signed the deal for the 90.69% stake in Perutnina Ptuj with Ukrainian MHP last month pending regulatory approval.

In addition to today's meeting, shareholders called another emergency meeting for next week to appoint new supervisors. Its fate however depends on the Slovenian competition watchdog, which is to decide on the sale. If the deal goes through, SIJ's supervisors will be replaced by MHP's.

The prospective owner said it would invest EUR 200m in production in the coming four or five year to strengthen the vertically integrated business model of the company.


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