Zwack board proposes HUF 1,050 dividend

Telco

The board of spirits maker Zwack Unicum will propose to shareholders payment of a dividend of HUF 1,050 per share on earnings from the business year ending March 31 at the annual general meeting scheduled for June 29, the AGM agenda shows.

The dividend fund thus amounts to HUF 2.1 billion. Zwackʼs after-tax profit for the period came to HUF 2.4 bln. A year earlier, shareholders approved an HUF 850 per-share dividend.

An earnings report released separately late Wednesday shows Zwackʼs IFRS after-tax profit rose 31% to HUF 2.2 bln in the 2016/17 business year on improved margins.

Revenues net of taxes climbed almost 15% to HUF 14.3 bln. Material costs increased at a slower rate, by 14%, to HUF 6.0 bln, lifting the gross margin a little more than 15% to HUF 8.2 bln.

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