"Žemaitijos pienas proposes not to pay dividends this year

One of the country's largest dairy processing groups „Žemaitijos pienas“, which made a net profit of EUR 24.4 million last year, proposes to pay no dividends this year.

Shareholders will decide on this on 29 April, „Nasdaq“ Vilnius Stock Exchange said on Friday.

In total, the shareholders will decide on €121.4 million in distributable profit, of which €111.2 million is proposed to be carried forward, €200,000 to be used for employee bonuses and €10 million to be transferred to the reserve for the acquisition of treasury shares.

„Žemaitijos pienas“ allocated EUR 2.08 million for dividends last year.

„Žemaitijos pienas“'s consolidated turnover in 2024, according to preliminary data, will amount to EUR 307.6 million (EUR 307.6 million), a 10.7% increase compared to the figure for 2023 (EUR 277.67 million), while earnings before interest, taxes, depreciation and amortisation (EBITDA) will grow by 6% to EUR 12.3 million (EUR 11.6 million).

The Group owns the parent company „Žemaitijos pienas“ and „Šilutės rambynas“.