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PODGORICA (Montenegro), July 11 (SeeNews) – Montenegrin blue-chip coal miner Rudnik Uglja [MNG:RUPV] will distribute a total of 1 million euro ($1.1 million) as a dividend for 2018, it said.
Rudnik Uglja's shareholders approved the proposed dividend payout at a general meeting held on July 5, the company said in a filing with the Montenegro Stock Exchange on Wednesday.
The company will keep 3.9 million euro of its 6.6 million euro net profit for 2018 as undistributed, while 1.7 million euro will be used to cover losses from previous years, Rudnik Uglja said.
Montenegrin state-owned power utility Elektroprivreda Crne Gore [MNG:EPCG] owns the entire capital of Rudnik Uglja.
In October, the Montenegro Stock Exchange removed Rudnik Uglja from its blue-chip MNSE10 index because it does not meet the conditions to stay.
($ = 0.88696 euro)