Slovenian retailer Mercator has confirmed that it hopes to stabilise its shareholder base through an agreement to issue a dividend of EUR7.2 (US$9.68) for fiscal 2009.
The company has seen a degree of uncertainty in its ownership structure after eight local banks said they would sell a 36.35% stake in the company. The banks had confiscated the stake from the failed Infond and Istranenz Holdings.
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However, the company said that it yesterday (23 April) reached an agreement with three local banks – Nova Ljubljanska Banka, Nova KBM and Abanka – that would see them retain their 18.7% stake in the group until 2012.
In a statement, the company said that the higher dividend would make its shares “more attractive” to investors and “help towards a more stable ownership structure” in the medium term.
This, Mercator said, is “important” to the group’s “unhindered development”.
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