NIS adopts draft decision on 2012 profit distribution - Payment of dividends in June

The Petroleum Industry of Serbia (NIS) adopted the General Meeting's draft decision on 2012 profit distribution, payment of dividends and the determination of the total amount of retained earnings at a session of its Executive Board on Tuesday (2 April 2013).

According to that draft decision, NIS will pay out dividends amounting to 25 percent of the profit generated in 2012, which is 10 percent above the minimum prescribed by the NIS shares sales agreement and the company's dividend policy.

Shareholders will be timely notified of the adoption of the General Meeting's decision and the dividend payment date, the company said in a release. The next General Meeting of NIS shareholders will be held by the end of June 2013.

Aside from the draft decision on profit distribution, the Executive Board also adopted the company's annual report for 2012.

According to Blic daily, dividends will also be paid in June to the citizens who possess free shares in NIS. People at NIS specify that these shareholders will receive a net amount, that is, a gross dividend minus a tax to be calculated and paid by NIS, which is charged to citizens at 15 percent.