Montenegro's Jugopetrol to Pay Gross Dividend of 0.86 Euro/Share

Montenegrin oil products distributor Jugopetrol, said it will pay a gross dividend of 0.86 euro ($0.95) per share.

The company will distribute as dividend a total of 4 million euro, Jugopetrol said in a filing with the Montenegro Stock Exchange.

The dividend proposal was approved by Jugopetrol's shareholders on May 25.

The company's non-consolidated net profit increased to 4.66 million euro in 2014 from 4.49 million euro a year earlier.

Jugopetrol, based in Kotor, has been a member of Greece's Hellenic Petroleum Group since 2002. The company is active in the retail and distribution of petroleum products and the wholesale of petroleum products through the operation of a storage facility at the Adriatic port of Bar and filling terminals at the airports of Tivat and Podgorica.

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