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SPP to distribute Sk19.3 billion in dividends

GAS utility Slovenský plynáresnký priemysel (SPP) recorded a profit of Sk21.6 billion (€543 million) last year. The state, as a 51 percent shareholder, will thus gain Sk9.8 billion (€246 million) in dividends, the SME daily wrote.

The SPP will also pay another Sk5.4 billion (€136 million) to the state in the form of the income tax.

The SPP's general assembly yesterday decided that of the profit Sk19.3 billion (€485 million) would be paid in dividends. The other SPP shareholders are German Ruhrgas and French Gas de France who privatized the SPP minority 49-percent stake three years ago.

This year SPP plans to invest Sk4.8 billion (€121 million), of which around Sk2 billion (€50 million) should go on connecting municipalities to gas distribution networks.

Compiled by Martina Jurinová from press reports
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