Montenegrin electricity transmission system operator CGES will distribute a gross dividend of 5 million euros to its shareholders, following approval at the company’s annual general meeting. The dividend payout comes after financial statements confirmed a net profit of 24.8 million euros for the previous fiscal year.
The remaining 19.8 million euros will be retained as undistributed profit to support CGES’s extensive investment program and meet regulatory requirements.
Chairman of the Board Aleksandar Mijuskovic highlighted that the dividend reflects the company’s solid financial position and steady performance. He confirmed that CGES’s investment cycle, valued at over 200 million euros, will continue with a focus on strategic upgrades to the national transmission network. This marks the seventh dividend payment since CGES’s establishment, with nearly 57 million euros returned to shareholders in total. Mijuskovic was re-elected as Chairman during the meeting.
The Montenegrin government owns 55% of CGES, Italian company Terna holds 22.09%, and Serbian operator EMS holds about 15%, acquired in two purchases in 2015 and 2021.
