The shareholders of the Montenegrin Transmission System (CGES) have approved a gross dividend payout of five million euros, as decided in today’s Shareholders’ Assembly.

During the assembly, shareholders agreed on the allocation of last year’s net profit from CGES, totaling 24.83 million euros.

“A gross dividend of five million euros will be distributed to shareholders, while the remaining 19.83 million euros will be retained as undistributed profits from previous years. These funds will be used to finance an ambitious investment cycle and to address negative corrections that will be determined by the regulator in accordance with the applicable law,” stated CGES in their announcement.

This dividend payment serves as confirmation of the company’s stability and its commitment to generating value for its shareholders.

Shareholders unanimously approved the financial statements and business report for the previous year, in which the company reported a profit exceeding 24 million euros.

Additionally, the independent auditor’s report was accepted, followed by the dismissal and election of new members to the Board of Directors, and the appointment of Ernst & Young as the auditor for the current year was confirmed.

The final segment of the Shareholders’ Assembly focused on personnel matters, where shareholders decided on the dismissal of the current members and the appointment of new ones to the CGES Board of Directors.

“In this context, confidence was maintained in most members of the previous board, including Aleksandar Mijušković, Jelena Matejić, Maria Rosaria Guarniere, Slavoljub Todorović, Vučko Fatić, Violeta Vuljaj, and Nicoletta Buonomo, representing the strategic partner, the Italian company Terna, who succeeded her colleague Guido Guido,” the statement elaborated.

The shareholders’ meeting, as reported by the company, occurred in a highly collaborative and productive atmosphere.

“The open dialogue between management and shareholders, marked by numerous inquiries and thorough explanations, reaffirmed a collective commitment to transparency, ongoing development of the company, and strengthening trust among all stakeholders,” said CGES.

Following the Shareholders’ Meeting, a constitutive session of the new Board of Directors was conducted at CGES, where it was unanimously decided that Mijušković will continue as the president of the company’s top governing body, a position he has held since June 2021, reaffirming longstanding trust and continuity in the company’s strategic management.

“It is a tremendous honor to be entrusted once again with leading the Board of Directors of a company that consistently demonstrates its resilience, stability, and potential to create new value. We have just concluded another successful business year, achieving a profit of over 24 million euros, and I am particularly pleased that, for the seventh time since the company’s inception, we can reward our shareholders’ trust with a dividend payout,” expressed Mijušković.

He noted that this is not merely a reward for trust, but also a clear indication of the company’s stability and the positive direction it is headed.