The Slovenia Times

Telekom Slovenije to Pay Out EUR 65M in Dividends


According to the proponents, the payment of EUR 10 gross per share instead of EUR 3.33 gross per share will not affect the normal business of the company.

The annual general meeting was attended by 40% of the capital with voting rights, as the state, SOD, KAD and several other minor shareholders had their voting rights stripped by the Securities Market Agency (ATVP) early last year after having been found to work in concert.

Slovenia is the biggest owner with its 62.54% stake in the telco, while SOD owns 4.25% and KAD owns 5.59%. They are selling their combined stake in the company and expect non-binding bids until next month.

There were two other proposals regarding the distribution of the EUR 65.05m, but one was removed from the table ahead of the meeting, while the other was shelved after SOD and KAD's proposal had been approved.

Telekom chairman Rudolf Skobe meanwhile believes that higher dividends are an additional burden but will not threaten the company's development plans.

The state owners of Telekom have been requesting higher dividends in state-owned companies to fill up the EUR 200m hole left in Slovenia's budget by the annulment of the real-estate tax.

Shareholders also gave discharge of liability to the management and the supervisory board for the 2013 business year and appointed KPMG Slovenija the auditor for 2014.

Adolf Zupan of the supervisory board meanwhile told the meeting that the management had done a very good job under the economic circumstances.


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