State GIVES UP on Telekom’s dividend, no one asked small SHAREHOLDERS

PinterestFacebookTwitterShare

Photo: Beta/Milan Obradović/Pixabay

The state of Serbia, as the owner of 58 percent of the national operator Telekom, and 4,860,000 of small shareholders will not receive their part of the cake from the profit generated last year after the successful operation, as the company claims, because the Shareholders’ Assembly confirmed that the profit would not be distributed since the next two years would be “the years of high investments”. The company told the Beta agency that these investments would position Telekom as a leader in the region, and money had been invested in the acquisition of several cable operators: EUR 195 million in Kopernikus, EUR 108 million in Radijus Vektor, EUR 12.5 million in Avcom and several smaller operators were also purchased. Due to these acquisitions, Telekom’s debt doubled amounting to more than 700 million euros, which is why the public is increasingly criticizing the public company for accumulating unnecessary debts to buy media and cable operators. After these investments, the Government of Serbia, representing the state, made a decision to give up on the dividend, and yesterday it was confirmed at the Shareholders’ Assembly. When a state renounces a dividend that fills the budget, small shareholders cannot get it either.

Source: Beta

Photo: Beta/Milan Obradović/Pixabay