Bulgarian Industrial Group Synergon To Pay Higher 2007 Dividend

Company shareholders voted to hold the remainder of Synergon's 13.889 million levs net profit for 2007 as undistributed profit, the company said in a statement.

Synergon's capital is distributed in 18,358,849 ordinary shares.

Synergon Holding ( www.synergon.bg ) was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year.

Synergon has more than 20 subsidiaries and two affiliated companies operating in various sectors of the Bulgarian economy. Only three of them, blue-chip fuel and construction materials retailer Toplivo, chemical company Petar Karaminchev and lamps producer Svetlina, are listed on the stock exchange.

Shares in Synergon, part of the broad BG 40 index of stock exchange in Sofia, lost 1.55% to a close of 7.6 levs on Tuesday. The filing was made after the end of bourse trading.

(1 euro = 1.95583 Bulgarian levs)