The management of insurer Sava Re has called an AGM for 16 November to decide on a dividend payout although the insurance sector was recommended not to pay out dividends due to Covid-19 uncertainties.
In line with the management’s proposal, EUR 16.3 million of the distributable profit of EUR 34.7 million would be allocated for dividends, which amounts to EUR 1.05 gross per share. Dividends would thus be 10.5% higher than last year. Sava Re argues current operations show dividends would not harm its solvency despite the uncertainties.
