North Macedonia: Higher dividends suggested at Makpetrol for 2019

, SEE Energy News

North Macedonian fuel retail company Makpetrol paid gross dividend of 21.1 euros/share for 2018. The company proposed to distribute gross dividend in the amount of 32.6 euros/share for 2019. According to the proposal, Makpetrol will distribute a total of 3.3 million euros in dividend from last year’s profit. Shareholders will vote on this proposal at the next general meeting scheduled for 20 June.

Makpetrol recorded a net profit in the amount of 14.3 million euros in 2019, which is 12.8 % higher compared to the previous year. The company’s operating revenues increased by 4 % to 367.5 million euros in 2019, while operating expenses also rose by 3.9 %, reaching over 353 million euros in the same period. Domestic sales rose by 2.9 % to 342.5 million euros, while sale on the foreign markets increased by 15 % to 20.2 million euros. The company recorded a non-consolidated net profit of some 12.7 million euros in 2018, more than double compared to 2017. Makpetrol operates a network of 127 petrol stations in North Macedonia and is also present in Greek and Serbian markets.