Montenegro's Budvanska Rivijera to decide on dividend payment in June

The decision on the distribution of last year's profit will be voted by the company's shareholders on June 3, Budvanska Rivijera said in a statement with the Montenegrin bourse last week.

No further details were provided.

The hotel operator said earlier that its net profit jumped to 1.9 million euro ($2.1 million) in 2023, from 602,563 euro in 2022.

The government is the single largest shareholder in the company with a 41.6% stake, followed by Cyprus-based MKG Properties Ltd (part of MK Holding of Serbian businessman Miodrag Kostic) with 26.1% and the state pension insurance fund with 12.8%. The remainder belongs to smaller shareholders, bourse data showed on Monday.

Budvanska's shares last traded on May 7, closing up 7.57% to 7.53 euro.

($ = 0.922 euro)