The dividend payment procedure of Žemaitijos pienas AB for 2016


Telsiai, Lithuania, 2017-04-18 17:00 CEST (GLOBE NEWSWIRE) -- On 14 April 2017, during the Ordinary General Meeting of the  Shareholders of Žemaitijos pienas AB (Company Reg. No. 180240752, registered at Sedos g. 35, Telšiai, Lithuania), it was decided to distribute the company’s profit of 2016 and to allocate EUR 0.10 of dividends to one share.

The dividends shall be received by those persons, who at the end of the tenth day after the decision of the General Meeting of the Shareholders on dividends, i.e., on 02 May 2017, shall be the shareholders of Žemaitijos pienas AB.

The dividends shall be paid from 12 May 2017 as follows:

The company after deducting Personal Income Tax or Income Tax in accordance with the laws of the Republic of Lithuania shall transfer the sum of dividends to the securities dealers or departments of credit institutions, and they shall accordingly transfer to the account of those shareholders, whose securities accounting is handled by securities dealers or departments of credit institutions providing the securities accounting services.

The company after deducting Personal Income Tax or Income Tax in accordance with the laws of the Republic of Lithuania shall pay out the dividends for other shareholders at its cashier’s office (Žemaitijos pienas AB, address: Sedos g. 35, Telšiai) or the dividends shall be transferred to any shareholder’s indicated personal bank settlement account after submitting a request with the copy of an identity document. You may submit your requests in writing (Žemaitijos pienas AB, address: Sedos g. 35, LT-87101 Telšiai) or by e-mail: info@zpienas.lt

The dividends paid in 2017 shall be taxed as follows:

The dividends paid out to the residents Natural Persons of the Republic of Lithuania and foreign countries are taxed applying 15% Personal Income Tax.

The dividends paid out to the residents Legal Entities of the Republic of Lithuania and foreign countries are taxed applying 15% Income Tax unless the law stipulates otherwise.

Foreign countries that the Republic of Lithuania has concluded international agreements for the avoidance of double taxation with, can use the privileges of such agreements and submit a completed Foreign resident's request to reduce the tax, form FR0021 (DAS-1).

Information provided by Žemaitijos pienas AB, phone: 8-444-22348

         Gintaras Keliauskas
         Lawyer +370 444 22208