The General Shareholders’ Assembly of Croatian oil company INA has approved the distribution of 20.5 million euros from last year’s net profit, which amounted to 21.6 million euros, as dividends, while 1.1 million euros will be allocated to legal reserves. The payout of 20.5 million euros, which accounts to 2.05 euros/share, will be completed by 14 July.
INA recorded a consolidated net profit in the amount of 26.2 million euros in the first quarter of 2017, compared to a loss of 8.8 million euros in the same period last year. The company’s earnings before interest, taxes, amortization and depreciation (EBITDA), excluding special items, amounted to 81.2 million euros in the first quarter of the year, a 128 % increase compared to the first quarter of 2016, while net sales revenues increased by 48 % and reached almost 515 million euros.
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