May 30, 2014 / 10:03 AM / 3 years ago

Bosnian telecoms firm m:tel cuts dividend 4.6 percent

SARAJEVO, May 30 (Reuters) - Bosnia's second-largest telecoms firm, m:tel, cut its 2013 dividend by 4.6 percent to 0.110 Bosnian marka ($0.06) per share after a worsening economic environment hurt its revenues.

Shareholders of the company, majority owned by Serbia's Telekom Srbija, approved this week a 54.2 million Bosnian marka dividend from its 2013 profit of 100.3 million, which fell 8.7 percent from the previous year.

M:tel's first-quarter profit fell 18 percent to 20.55 million Bosnian marka ($14.3 million) due to the poor payment of bills in the fixed-line telephony sector.

Its shares on the Banja Luka Stock Exchange were down 0.63 percent at 1.58 marka on Friday.

Sarajevo-based BH Telecom, the country's largest telecoms operator, in April reported a 4.2 percent drop in full-year 2013 net profit to 116.6 million marka, citing lower prices for international traffic and increased operating costs.

1$=1.437 Bosnian marka Reporting by Daria Sito-Sucic; editing by Susan Thomas

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