Bosnia's Telekom Srpske to pay EUR 29.1mn dividend on 2010 profit.

By bne IntelliNews June 8, 2011
The shareholders of Serb Republic's telecommunications company Telekom Srpske approved the management proposal to pay a dividend of 52.6% or KM 56.98mn (EUR 29.1mn) on its 2010 net profit, the company said in a filing to the Banja Luka Stock Exchange. The dividend will stand at KM 0.1159 per share and will be paid to the shareholders as of June 27. The approved dividend payment represents 91.3% of the retained 2010 net earnings of KM 62.4mn. The remaining KM 5.4mn will be transferred to the legal reserves account. Thus, Telekom Srpske's majority shareholder with a 65% stake, Telekom Srbija, will receive some KM 37mn. Telekom Srpske's audited non-consolidated net profit increased by 5.6% y/y to KM 108.4mn (EUR 55.4mn) in 2010.

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