Six companies share a dividend of 20 million

Six joint stock companies, whose shares are listed on the Montenegro Stock Exchange, have made decisions to distribute dividends for 2024 in the amount of 20,8 million euros, while nine joint stock companies, which made a profit last year, have decided not to distribute profits but to direct them into retained earnings, reserves or for investments.

Dividends are distributed to shareholders by Jugopetrol, Crnogorski Telekom, Luka Kotor, Crnogorski Elektroprenosni Sistem (CGES), Univerzal Kapital Bank, and Construction Supervision and Laboratory Testing. The same companies, only without Univerzal Bank, and with PLC Morača, also distributed dividends for 2023.

Last year, Jugopetrol had a profit of 7,14 million euros, of which six million euros were distributed to shareholders, which is 1,09 euros net per share. After the dividend distribution, the company had, as of the end of last year, 14,5 million euros in undistributed profits from the previous period. The current value of a Jugopetrol share on the stock exchange is 15,02 euros.

Crnogorski Telekom made a profit of 5,82 million euros last year, of which 5,48 million euros were allocated for dividends by the decision of the Shareholders' Assembly. Shareholders will receive a net amount of 10 cents per share. The company's account remains with undistributed profit of 15,7 million euros. The current value of a Crnogorski Telekom share on the stock exchange is 2,32 euros.

In 2024, the Port of Kotor had a profit of 1,8 million euros, of which 696 thousand euros were distributed to shareholders. Net profit per share amounts to 42,9 cents, while 2,2 million euros remain in retained earnings. The current value of the Port of Kotor share on the stock exchange is 8,6 euros.

CGES made a profit of 24,8 million euros last year, of which five million euros were paid as dividends to shareholders. Net profit per share is 2,91 cents. The total undistributed profit of this state-owned company remains at 99 million euros. According to the decisions of the Energy Regulatory Agency, CGES should return to consumers, through future reductions in the account that began this year, part of the money it earned from fees for the transport (trade) of electricity with foreign countries through its domestic (its) transmission network. Therefore, the company decided to pay a lower dividend in order not to jeopardize the large investments it has begun. The current value of a CGES share on the stock exchange is 1,2 euros.

Univerzal Kapital Banka made a profit of seven million euros last year, of which it directed 3,5 million euros to its shareholders as a dividend. The net dividend per share amounts to 11,47 cents. The company's total retained earnings remain at 15,7 million euros. The current value of a Jugopetrol share on the stock exchange is 15,02 euros.

The joint-stock company Construction Supervision and Laboratory Testing made a profit of 29,5 thousand euros last year, and they decided to distribute 121.658 euros to shareholders by reducing retained earnings from previous years. The net dividend per share is six euros. After this payment, the remaining retained earnings are 1,94 million euros. The current value of this company's shares on the stock exchange is 50 euros.

According to data from the Montenegro Stock Exchange, Jugopetrol, Crnogorski Telekom and Crnogorski elektroprenosni sistem are the only companies that have continued to pay dividends for three years in a row, i.e. for 2024, 2023 and 2022.

Eight companies listed on the stock exchange have not made a decision on the payment of dividends for 2024, although they made a profit, because they decided to redirect the profit made to retained earnings or to the company's reserves. These are the companies Lovćen banka, Elektroprivreda, Napredak AD Kotor, PLC Morača Podgorica, Sveti Stefan hotels Budva, Hotelska grupa "Budvanska rivijera", Hipotekarna banka and Zetatrans.

It was stated that Marina from Bar also operated profitably last year, and that at the Regular Annual Shareholders' Meeting there was a proposal to distribute part of the profit to shareholders, but that the majority (representatives of state capital) did not vote for such a decision.