SOFIA (Bulgaria), May 25 (SeeNews) - Bulgarian Stock Exchange [BUL:BSE] said that it is proposing to pay out a further 0.42 levs per share in gross dividend for 2021, following distribution of first-half dividend of 0.55 levs, and will use part of last year's profit to increase its capital.
The company will distribute as remaining dividend for 2021 a total of 2.76 milion ($1.5 million/1.4 million euro) levs out of its 2021 after-tax profit of 9.7 million levs, the Sofia bourse operator said in a statement last week.
In October, BSE shareholders approved the distribution of gross dividend of 0.55 levs per share, or a total of 3.62 million levs, for the first half of 2021.
Under the proposal, BSE's full-year dividend for 2021 would amount to some 6.4 million levs, or 70.54% of last year's profit after replenishing reserves, and will total 0.97 levs per share. A sum of 658,286 levs will be allocated to top up the reserve fund. Some 120,000 levs remain as retained earnings and will be referred to the company's additional reserves.
Together with additional reserves, the amount of 2.5 million levs that remains out of the net profit reported for 2021 will be deployed for a planned capital increase to 13.2 million levs from 6.6 million levs, BSE said. A total of about 6.58 million new shares of 1 lev in par value each will be issued, with shareholders receiving one new unit for each share held.
Shareholders will vote on the proposals at a general meeting to be held on June 30.
Shares in BSE traded 0.88% lower at 11.30 levs as at 1215 CEST on Wednesday.
(1 euro = 1.95583 levs)