Montenegro’s power utility EPCG said its shareholders have approved a plan to skip dividend payments from its 52.49-million-euro net profit reported for 2023.
The shareholders decided on June 28 to retain 47.24 million euros of last year’s profit and allocate the remaining 5.25 million euros to reserves, EPCG said in a statement earlier this week.
Depending on the company’s financial conditions, EPCG might decide by the end of 2024 to distribute a dividend from its retained earnings, the statement noted.
In 2023, the company retained its 4.29-million-euro profit recorded in 2022. However, later in 2023, it distributed a gross dividend of 0.0766 euros per share, amounting to 8.39 million euros in total.
