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PODGORICA (Montenegro), July 9 (SeeNews) - Montenegro's Crnogorski Telekom [MNG:TECG] will distribute a total of 4.728 million euro ($5.3 million) as dividend for 2018, it said.
Crnogorski Telekom's shareholders approved the proposed dividend payout at a general meeting held in May, the company said in a filing with the Montenegro Stock Exchange on Monday.
The company will keep 2.5 million euro of its 7.3 million euro net profit for 2018 as undistributed, Crnogorski Telekom said.
In this way, Crnogorski Telekom will increase the total amount of undistributed profit to 13.1 million euro from 10.6 million euro.
Crnogorski Telekom's total dividend payout on 2017 earnings stood at 4.727 million euro.
($ = 0.855672 euro)