Dividend payment for 2019
The dividend amount
On 30 June 2020 Shareholders' Assembly of NIS j.s.c. Novi Sad has adopted the Decision on profit distribution for 2019, Dividend Payment and Determining the Total Amount of Retained Profit of NIS j.s.c. Novi Sad.
This decision determines that the dividend will be paid to NIS j.s.c. Novi Sad shareholders in cash, in the gross amount of RSD 4,425,459,256 i.e. in the gross amount of RSD 27.14 per share.
Withholding tax will be deducted from this amount (for resident natural persons the current tax rate is 15%). The amount of tax will be calculated and paid for shareholders by NIS, so the shareholders are not required to contact Serbian tax authorities regarding the tax on dividend.
In accordance with the decision of the Shareholders Assembly, the shareholders registered in the Central Securities Depository and Clearing House as legal owners of NIS j.s.c. Novi Sad shares on the Record date (Dividend Day) i.e. on 20 June 2020 are entitled to dividend payment from the profit for 2019, in proportion to the number of shares they owned on that day.
Date of dividend payment
The date of dividend payment is not yet determined.
Dividend payment procedure
In connection with the payment of dividends, entities that are residents of Serbia should not submit to NIS any information before the payment (does not refer to custody and omnibus accounts) because the payment for minority shareholders will be made through the Central Securities Depository and Clearing House, in the following manner:
- To shareholders who have an active account of financial instruments, dividend will be paid on the cash account used for trading in shares. In case the dividend is not paid into the shareholder's cash account within 15 working days from the date of dividend payment, it is necessary to contact NIS and submit a request for payment of dividend returned to the payer;
- Shareholders who do not have an active account of financial instruments as their account has been terminated after the Dividend day, may submit to the corporate agent of NIS (Vojvodjanska banka) instructions for dividend payment until the day preceding the day of calculation of dividend. After the day of dividend payment, the amount of dividend can be withdrawn in person at the counter of Vojvodjanska banka with the ID card within 15 working days from the day of dividend payment. After the expiration of the stated deadline, the payment of dividends will be made by NIS on the basis of the shareholder's request for payment of dividend returned to the payer;
- Shareholders who received shares as employees or former employees and who have not opened a securities account until the record date will be able to withdraw the paid amount in person at Vojvodjanska banka with their personal ID card within 15 days of the payment of the dividend. After this deadline, dividend payment will be made by NIS upon the request of the shareholder for payment of dividend returned to the payer;
- Shareholders who received 5 NIS shares as citizens, will be able to withdraw the dividend from the cash account that they registered when they signed up for free shares (shareholders need to notify the Bank Postanska stedionica about changes regarding their registered cash account). If a shareholder has registered a cash account opened with Bank Postanska stedionica, dividend can be withdrawn at the Post office with personal ID card.
Decisions and notifications
For additional information, please contact the Sector for relations with minority shareholders.