Jugopetrol shareholders receive 1,27 euros per share

The Shareholders' Assembly of Jugopetrol decided to distribute a dividend of 6,98 million euros to shareholders, which is 1,5 euros gross per share. Also, in accordance with the new Law on Business Companies, a new Board of Directors with nine members was elected.

Last year, the company generated a net profit of 9,37 million euros, which is almost 20 percent more than in 2024, when the profit was worth seven million euros.

The remaining part of last year's net profit, the difference between profit and dividend, of around 1,4 million euros, according to the minutes of the Shareholders' Meeting published on the Montenegro Stock Exchange website, was directed into retained earnings, which will now amount to 22 million euros.

Shareholders who are on the list of shareholders with the Central Clearing and Depository Company (CKDD) on the day of the General Meeting session when the dividend decision was made, on June 5, have the right to receive the dividend. The company's management will subsequently inform shareholders about the date and method of payment.

A 15 percent tax is calculated on the dividend payment, so the net value will be 1,27 euros per share.

"The payment will be made in cash, within a period that cannot exceed six months from the date of the Decision, reduced by the amount of profit tax that the Company calculates and pays by withholding," stated the explanation of the decision from the minutes of the Assembly.

The Greek "Helleniq" group owns 54,35 percent of the shares, while small shareholders have 45,65 percent of the shares.

The shareholders' assembly also decided to reclassify a portion of the reserves that were not used in previous years, amounting to 2,46 million euros. This amount was added to retained earnings, bringing it to 24,5 million euros. G.K.

Former Greek Minister of Health in the company's new management

The Assembly adopted the new company Statute by a two-thirds majority, secured by minority shareholders, thus aligning the management of Jugopetrol with the new Law on Business Companies.

At the proposal of the majority owner of the Greek “Helleniq”, the following were elected to the new Board of Directors: Vasileios Panagopoulos, (the previous executive director who remains in that position), Yvet Louiza Kosmetatou, Charikleia Vardakari, Evangelia Papathanasiou, Vuk Radovic, Sotirios Anastasiadis i Vasileios Kontozamanis.

Kontozamanis is a former Greek Minister of Health, who was also a long-time Deputy Minister of Health and Advisor to the Prime Minister of Greece on Health. His biography states that he led major structural reforms in the Greek healthcare system from 2019 to 2021. He also served for several years on the board of the European Medicines Agency.

On behalf of the minority shareholders in the new Board of Directors are: Tripko Krgović i Dejan Bajic, which were also in the previous one.