Bosnian Hydro Power Producer HE na Trebisnjici Plans to Pay Dividend

Bosnian state-owned hydro power producer Hidroelektrane na Trebisnjici (HET) said on Thursday it plans to distribute a dividend of 0.013 marka ($0.0075/0.0066 euro) per share for 2014.

The company’s shareholders will vote on the decision to distribute as dividend a total of 5.02 million marka, or 82% of its net profit for last year, at a general meeting scheduled for November 5, Hidroelektrane na Trebisnjici said in a filing with the Banja Luka Stock Exchange.

The company plans to allocated 5% of its net profit to mandatory legal reserves, 3% to statutory reserves and 10% for donations.

The hydro power complex's net profit fell to 6.1 million marka in 2014 from 12.3 million marka a year earlier.

Hidroelektrane na Trebisnjici is located in Trebinje, in the Serb Republic, one of the two autonomous entities that form Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.

Source: SeeNews