Zavarovalnica Triglav

Notice of Dividend Amount • Mar 31, 2022

Category: Inside information

Published on: SEOnet

Published at:  30.03.2022 17:40

Published document ID: INI-171/22

INI-164/22

ZAVAROVALNICA TRIGLAV, d.d., Ljubljana

Proposed dividend for Zavarovalnica Triglav shareholders

In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation, ZAVAROVALNICA TRIGLAV d.d., Ljubljana is hereby publishing the following notice:

The Management Board and the Supervisory Board will propose to this year’s General Meeting of Shareholders to pay the dividend of EUR 3.70, or EUR 84.1 million in total. According to their proposal, 74% of the Triglav Group’s net profit for 2021 would be allocated for the dividend payment, which would represent a 9% dividend yield.

The Management Board and the Supervisory Board will propose to this year’s General Meeting of Shareholders that EUR 84.1 million be allocated for dividends. The proposed amount exceeds 50% of the consolidated net profit of the previous year (EUR 56.8 million), which is set as a starting point in the Company’s dividend policy. A part of the proposed dividend therefore represents an additional amount made possible by the level of the Group’s available capital and arises from the uniqueness or exceptionality of some segments of the Group's operations in the past two years.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: “The Management Board and the Supervisory Board based this year’s dividend proposal on the dividend policy, also taking into account several aspects and circumstances of recent years. The Triglav Group has been operating in an extremely demanding and uncertain business environment over the past two years, exercising extra caution in this respect, particularly with regard to underwriting activities. Last year, the Group was able to achieve very good business results, which were even above expectations. Furthermore, the Group maintained its financial strength, with its capital adequacy being in the target range, thus ensuring that the Group also has an adequate amount of available capital. Its target capital adequacy will be maintained even when the proposed dividend is paid. Last but not least, estimates of the current and expected future business conditions of the Triglav Group and its ability to achieve its set strategic goals in the future were also taken into account.”

Zavarovalnica Triglav’s dividend policy is designed in a way that is attractive to shareholders and sustainable for the development and growth of the Triglav Group. Accordingly, the starting point for the dividend proposal of 50% of the consolidated net profit of the previous year is preserved also for 2023.

The Company is expected to announce the convening of the regular General Meeting of Shareholders on 21 April 2022, scheduled to take place on 24 May 2022.

This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 30 March 2022 and will remain available on the Company's public website for a period of at least five years.

Management Board of Zavarovalnica Triglav d.d.

Date: 31.03.2022