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NIS proposes 25% dividend payout amid strong profit performance

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The Board of Directors of the Oil Industry of Serbia (NIS) has finalized the proposal for the shareholders’ assembly decision regarding profit distribution for the year 2023, as announced by the company through the Belgrade Stock Exchange.

As anticipated, NIS intends to allocate 25 percent of its profits to shareholders in the form of dividends this year, a practice consistent with previous years except during the pandemic, according to Momentum.

The Board of Directors has recommended allocating 10.5 billion dinars from last year’s profit of 41.9 billion dinars for dividends, equivalent to 64.26 dinars per share.

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With the current share price standing at 850 dinars, this dividend translates to a yield of 7.6 percent.

In the previous year, owing to the company’s exceptional performance in 2022, shareholders received a record dividend of 143.3 dinars per share.

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