Bosnia: Power utility EPBIH marks low profit in 2015

, SEE Energy News

According to a draft proposal, Bosnian power utility EPBIH will pay a dividend to its shareholders in the amount of about 0.04 euros per share out of profit recorded in 2015 The company has achieved a profit of 1.85 million euros last year.

Some 1.33 million euros is intended for the payout of dividends to shareholders, while 20 % of last year’s profit or about 370,000 euros will be allocated to reserve fund and the remaining 151,000 euros will be considered as retained earnings.

The amount of the dividend payout for 2015 was determined in accordance with the decision of the Federal Government on the implementation of measures to reduce the cost of electricity subsidies. In 2015, the amount of subsidies for electricity consumption totaled to some 1.2 million euros and makes 90.37 % of the total amount proposed for dividend payout. EPBIH’s Shareholders’ General Meeting is scheduled for 29 June.

At the end of 2015, EPBiH had 4,837 employees, 120 less than a year earlier. Federal Government of Bosnian and Herzegovina is the largest shareholder of EPBiH with 90.3 % stake, transmits