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Croatian Telecom (T-HT) started paying their 280,000 shareholders the remainder of the dividend for 2008, amounting to 1,183.35 kn per package of 69 shares (17.15 kunas per share). All of the dividends will be paid out by May 19th.

In the beginning March, T-HT paid an advance of the dividend in the amount of 12.84 kunas per share or 885.96 kn per share package. “T-HT ended 2008 according to projections. Our results are good and the company is solvent with a lot of its own capital. Paying out the dividend in the amount of 29.99 kunas per share is a responsible act. We should not forget that during this time of crisis we have even a greater responsibility toward the society’’, said Ivica Mudrinić, the President of the Board at the Main Shareholder Assembly.The General Assembly was attended by 102 shareholders, holding 66% of the founding capital. The total amount to be used for dividends is 2.46 billion kunas out of which 2.1 billion kunas is last year’s profits and 353 million kunas of retained profits from prior years. Mudrinić added that last year’s profit was 2.7% higher or 8.82 billion kunas and that the company exceeded expectations in certain business segments. For example, the number of broadband internet users exceeded projections by 2.8%, totaling 473.000 users. On the other hand, the (profit) margins fell (from 47.2% in 2007 to 45.5% in 2008), as did the average per user income for fixed and mobile telephones and broadband internet. The market value of the share is significantly lower than in the Initial Public offering. On Tuesday, the share value fell by 1.85%, to 205 kunas. There are 81.89 million shares of T-HT on the market.