June 18, 2018 / 7:39 AM / a year ago

CEZ shareholder group seeks dividend higher than state's proposal

PRAGUE, June 18 (Reuters) - A shareholder group holding a 1 percent stake in CEZ wants the Czech majority state-owned utility to pay a higher dividend from 2017 profits, according to a counterproposal posted on the company’s website ahead of its annual general meeting.

The group, led by Czech investor Michal Snobr, proposed that CEZ pay a dividend of 35 crowns per share, higher than a 33 crown a share proposal put forward by management and backed by the state, which is 70 percent owner of CEZ - giving the counterproposal little chance of succeeding. (Reporting by Jason Hovet, editing by Louise Heavens)

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