The Shareholders' Assembly of Crnogorski elektroprenosni sistem , on the last day of the current year, adopted the Decision on distribution of EUR 16.24 million of dividends in gross amount. This is a part of the retained profit of our company from previous years, which amounted to EUR 28.71 million at the end of last year. The dividend will be paid in cash, and net dividend value per share will amount to EUR 0.101.
Crnogorski elektroprenosni sistem will notify its shareholders in due time of the date and method of dividend payment through the media, and on the Company's website.
In the further course of the session, the Assembly approved the buyback of shares from dissenting shareholders who voted against the decision on pledging CGES assets at VI Extraordinary Shareholders Assembly held on 31 October 2018, and who met all the preconditions for repurchase of shares prescribed by Article 32a of the Companies Act.
We recall that Crnogorski elektroprenosni sistem, based on the business results for the nine months of 2018, has realized a net profit of EUR 4.2 million.