The richest Croatian businessman Ivica Todoric,who owns fortune of, at least, 4.4 billion, of just company that are listed at stock market. Profit attributable to him as the major shareholder of Agrokor through dividends paid on behalf of him, according to the discretion of the Assembly held in July, was only 24.2 million kuna. Because of bad results of Holding company, it is almost half of the size of last year’s dividend of 45.7 million.
Dividends which members of the Group Agrokor paid to, are significantly greater than those which holding company pays to its majority owner Ivica Todoric, which holds 94 per cent of stake in Agrokor. From eight of his companies listed on the Stock Exchange, this year only three of them paid dividends, and to Agrokor as Holding company went 104.1 million kuna. Konzum has, through dividend paid to Agrokor 55.5 million kuna, Jamnica 28.1 million kuna and Ledo 20.5 million, while dividends were not paid the Belje Vupik, Newspapers, Star or PIK Vinkovci.
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This year’s slightly lower dividend for Todoric is caused by the fact that holding company Agrokor, which manages wit his portfolio companies and is unlisted at stock, last year operated with a loss of 11.6 million. Their revenues fell by nine percent on 1.5 billion, and almost at the same size expenses grew. Most of Agrokor incomes are financial – from dividends and interest rate paid by affiliates, just like them, and financial costs are also financial.
Todoric got a slightly higher dividend than other famous entrepreneurs: Emil Tedeschi received this year 15 million kuna, a dividend of Ante Vlahovic was 14 million. However, if it measured only the value of the companies which have been listed on the stock, the owner of Agrokor from two abovementioned is ‘heavier’ four or five times.
