Slovakofarma Hlohovec to pay out dividends for 1998

Slovakofarma Hlohovec will pay out 1998 dividends of 40 Slovak crowns per common share, a decrease of 180 crowns from 1997. Dividends on employee shares are 45 crowns, down 85 crowns. Slovakofarma will pay out a total of 70.8 million crowns in 1999, said CEO Ondrej Gattnar after a regular shareholders' meeting on May 13.

Last year the company paid out dividends of 220 crowns per common share.

Slovakofarma Hlohovec netted 227 million crowns in 1998. The company reported a net profit of 344 million crowns in 1997, down 169 million crowns from 1996.

The company's sales were 5.36 billion crowns in 1998, unchanged from the previous year. The company reported an increase in sales on the Slovak market of 9.2% while the Czech market reported a rise of 8.2%. The company ascribed its overall 33.7% drop in exports to other countries to economic crises worldwide.

The price of Slovakofarma's shares has fallen consistently from a peak of 4,200 crowns in August 1997. Currently, Slovakofarma is trading at 1,700 crowns per share.

The majority shareholder is S.L. Pharma Holding G.m.b.H. Wien, which owns 55.98% of Slovakofarma's total share assets. Foreign investors, represented by Bankers Trust Company in New York, hold a 22.9% stake. Employee stock/share assets account for 7.89%.

Slovakofarma Hlohovec is the largest, oldest and most important pharmaceuticals company in Slovakia, with a market share of 15%. It is one of the six largest pharmaceuticals companies in central and eastern Europe.

Get daily Slovak news directly to your inbox

Top stories

News digest: Health care staff still lacking, president asks for amends

Slovakia is preparing to launch the nationwide testing on Saturday morning, but the government admitted they still need hundreds of health care staff. Kotleba violates quarantine and hospitals in the north are full.

The Bratislava Self-Governing Region started testing its staff on October 30.

Testing is impossible to carry out as planned, president says

President Zuzana Čaputová asked the government to reconsider measures for people who do not get tested, many will not get a chance.

President Zuzana Čaputová met with the representatives of the armed forces.

The big test is upon us. What are we to do?

For a foreigner living in Slovakia, there is yet another concern.

Health care professionals still lacking ahead of Saturday's testing

Government avoids mobilisation for now, PM offers an extra bonus to health care professionals who can serve the whole weekend.

Dolný Kubín