Montenegro: Lower dividend for 2020 to be distributed at Jugopetrol, SEE Energy News
Montenegrin oil company Jugopetrol will propose to its shareholders a gross dividend payout from last year’s profit in the amount of 0.3 euros/share, totaling some 1.4 million euros. Dividend for 2020 is significantly lower compared to 2019, when Jugopetrol distributed gross dividend of 0.5 euros/share.
Jugopetrol recorded a net profit in the amount of 2.62 million euros in 2020, which is an decrease of some 39.5 % compared to the previous year. The company’s operating revenues in the past year amounted to 82.5 million euros, which is 48 % lower compared to 2019, while its operating expenditures amounted to 80.9 million euros (- 47.2 %). other operational expenses amounted to 8.4 million euros in 2020. Total assets of Jugopetrol at the end of December 2020 amounted to 106 million euros compared to 109.8 million euros at the end of 2019. The largest shareholder in Jugopetrol is Greek Hellenic Petroleum International, which owns 54.35 % of the shares since 2002. Other shareholders with significant number of shares are: collective custody account 5 with 9.25 %, collective custody account 1 with 8.64 %, and collective custody account 8 with 3.29 %.
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