CIG Pannonia shareholders vote to pay no dividend

In Hungary

Shareholders of Hungarian insurer CIG Pannonia decided to pay no dividend at an annual general meeting today. CIG Pannonia had net profit of HUF 82 mln last year, according to Hungarian Accounting Standards. 

The shareholders mandated the board to purchase up to 5m A-series treasury shares at a price up to HUF 400 apiece. They also mandated the purchase of up to 1,150,367 B-series and 730,770 C-series interest-bearing treasury shares at a price up to HUF 750 apiece in the next 18 months.

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