SARAJEVO (Bosnia and Herzegovina), June 28 (SeeNews) – The shareholders of Bosnian state-controlled BH Telecom [SAJ:BHTS] approved the company's proposal to distribute a dividend of 0.55 marka per share ($0.32/0.28 euro) and adopted a decision to establish a new company, local media reported on Friday.
The company will pay out as dividend 35 million marka ($20.4 million/17.9 million euro) from its 2018 gross profit of 63.58 million marka, news wire Indikator.ba reported.
The company's shareholders decided at a regular meeting on June 27 to establish a new limited company with the aim of investing in new technology, the report added.
BH Telecom has said earlier that its net profit fell to 57.3 million marka last year from 60.7 million marka in 2017.
BH Telecom is 90%-owned by the government of Bosnia's Federation, followed by closed-end funds.
BH Telecom is based in the capital Sarajevo and has customers mainly in the Federation entity, which makes up Bosnia together with the Serb Republic entity.
The other two Bosnian telecoms are HT Mostar, which is also active in the Federation, and Telekom Srpske which operates in the Serb Republic.
(1 euro=1.95583 marka)