Business News

SIJ earmarks EUR 10 million for dividends

Ljubljana, 20 November (STA) - The general meeting of Russian-owned steel maker SIJ decided on Wednesday to earmark EUR 10 million out of EUR 44 million in distributable profit for dividends, which amounts to 10.34 euro per share. The rest of the distributable profit will remain undistributed, the company said.

This was SIJ's fourth shareholder's meeting this year. The April meeting brought the appointment of two new supervisors, the August meeting decided the distributable profit would not be distributed and the October one picked Deloitte Revizija as the auditor for 2019, 2020, and 2021.

SIJ, which was privatised in 2007, is in the majority ownership of Dilon. The Russian conglomerate owns 72.2%, while Slovenia holds a controlling 25% stake.

SIJ posted EUR 81.2 million in net profit in the first half of the year, a 4.3-fold increase over the same period a year ago, on lower sales. The sales revenue decreased marginally, by 2.1%, to EUR 417.2 million.

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