PODGORICA (Montenegro), December 6 (SeeNews) – Montenegro's state-controlled power utility Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] has said its shareholders approved the payment of a gross dividend of 0.36 euro ($0.40) per share on 2018 earnings.
EPCG will pay out a total of 48.6 million euro in dividend for 2018 from undistributed profit for previous years, the company said in a bourse filing on Thursday.
The company swung to a net profit of 44.1 million euro in 2018 from a loss of 948,127 euro in the previous year.
EPCG paid last year a gross dividend of 0.4214 euro per share on 2017 earnings.
The government's stake in EPCG has risen to 88.1% from 57.1% following the activation of a July 2017 put option agreement, under which the government pledged to repurchase the shareholding interest of the Italian company in EPCG.
($ = 0.900364 euro)