May 25 (SeeNews) - Bulgarian farming group Agria Group Holding [BUL:AGH] said it is proposing to distribute 6.8 million levs ($3.7 million/3.5 million euro) as dividend for last year.
Agria Group plans to allocate the dividend from its net profit of 42.2 million levs reported for 2022, it said in a bourse filing on Tuesday, without disclosing what the dividend per share will amount to.
The company also intends to launch a share buyback programme targeting up to 3% of its equity capital in a drive to increase the liquidity of its shares. Agria Group is seeking to repurchase up to 204,000 of its own shares at a price between 28 levs and 30 levs apiece.
The potential share buyback programme will run for one year, starting June 30, 2023.
The shareholders will vote on the proposals at a general meeting on June 26.
Agria Group distributed a gross dividend of some 0.3676 levs per share for 2021, or 2.5 million levs in total, according to previously disclosed data.
As of 1055 CET on Thursday, shares in Agria Group traded 0.43% lower at 23.20 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)