Montenegro's Jugopetrol To Pay 0.64 Euro/Share Gross Dividend for 2008 - Media

The meeting of shareholders convened earlier in the week decided to distribute as dividend 3.0 million euro from the company's 2008 net profit of 7.15 million euro, Montenegrin daily Dan (www.dan.cg.yu) reported in its online edition.

No information was immediately available on the company's dividend policy so far.

The shareholders earmarked 3.5 million euro for the development of Jugopetrol's petroleum and derivatives business and for the expansion and improvement of its retail networks and logistics capacity, Dan reported.

Jugopetrol AD Kotor (www.jugopetrol.cg.yu) is active in the retail and distribution of petroleum products and in the wholesale of petroleum products through the operation of a storage facility at the Adriatic port of Bar and two airport fueling stations at Tivat and Podgorica.

The company operated 36 petrol stations and three yacht fueling stations at the end of last year, according to its 2008 financial statement.

($ = 0.6629 euro)