Telekom Shareholders to Receive Dividends of 1.5 Euro per Share

Ljubljana, 21 September - Shareholders of Telekom, Slovenia's telephone services provider, adopted a decision at a general meeting on Thursday, to pay out dividends for 1999 in the amount of SIT 2.026 billion (9.7 million euro) or SIT 310 (1.5 euro) per share. Gross profits from 1995 with a revalued adjustment in the amount of SIT 76.2 million, gross profits from 1996 in the amount of SIT 612.4 million, and SIT 1.337 billion gross profits in 1997 will be used for dividends. Half of gross profits from 1999 in the amount of SIT 3.949 billion will remain unallocated, while the other half was used for reserves. The state has a 66-percent stake in Telekom.