Montenegro's Jugopetrol to decide on 2023 dividend payout on May 29

The company provided no further details on its dividend plans in its annual shareholders' meeting invitation filed with the Montenegrin bourse on Friday.

Earlier in April, Jugopetrol said its net profit fell to 7 million euro ($7.5 million) in 2023 from 12.1 million euro in 2022.

Last year, the company allocated a total of 6.5 million euro for dividend payment, distributing a gross 1.4 euro and a net 1.19 euro per share.

Its shares last traded on April 24, closing down 4.46% at 12.42 euro.

Greece's Hellenic Petroleum International is Jugopetrol's largest shareholder with a 54.4% stake. The remainder belongs to smaller shareholders.

($ = 0.933 euro)