Žemaitijos pienas, AB dividend payment procedure for 2017

The ordinary general meeting of Žemaitijos pienas, AB (company code 180240752, registered address Sedos 35, Telšiai, Lithuania) held on 30 April 2018 decided to distribute the Company’s profit earned in 2017 and to allocate EUR 0.15 dividend per share.
Dividends will be paid to those persons who at the end of the tenth business day following the general meeting that made the decision on the payment of dividends, i.e. 15 May 2018, will be the shareholders of Žemaitijos pienas AB.

Dividends will be paid from 25 May 2018 according to the following procedure:
Dividends to those shareholders whose securities are accounted for by financial brokerage companies or branches of credit institutions providing securities accounting services, after deduction of personal income tax or corporate income tax in accordance with the laws of the Republic of Lithuania, will be transferred by the Company to financial brokerage companies or branches of credit institutions, and they, accordingly, will transfer the amount of dividends to the account specified by the shareholder.
Dividends to other shareholders, after deduction of personal income tax or corporate income tax in accordance with the laws of the Republic of Lithuania, will be paid by the Company in the Company’s cash office (Žemaitijos pienas, AB at the address Sedos 35, Telšiai), or upon submission of an application together with a copy of the personal identification document, the dividends will be transferred to the shareholder’s specified personal settlement account in any bank. Applications can be submitted in writing (Žemaitijos pienas, AB at Sedos g. 35, LT- 87101 Telšiai) or by e-mail info@zpienas.lt

Dividends paid in 2018 are taxable according to the following procedure:
Dividends paid to natural persons residents of the Republic of Lithuania and natural persons residents of foreign countries are taxed at 15% personal income tax rate.
Dividends paid to legal persons residents of the Republic of Lithuania and legal persons residents foreign countries are taxed at 15% corporate income tax rate, unless otherwise provided by law.
Residents of foreign countries with whom the Republic of Lithuania has concluded international agreements on avoidance of double taxation may use the benefits provided for in such agreements and submit a completed application of the Resident of a Foreign Country for the Reduction of the Deductible Tax, form FR0021 (DAS-1).

Information is provided by Žemaitijos pienas, AB, tel. +370 444 22348
Gintaras Keliauskas
Lawyer
+370 444 22208