August 21 (SeeNews) - Bulgarian IoT products developer Allterco [BUL:A4L] is considering the distribution of an interim dividend for the first half of 2019, local business news outlet Investor.bg reported on Wednesday.
Allterco could hold a shareholders meeting to seek approval for the interim dividend distribution before the end of 2019 if the company's consolidated financial results are good enough to support such a decision, Dimitar Dimitrov - Allterco's CEO, told Investor.bg in an interview.
Last month, Allterco wrapped up the sale of five of its telecommunications subsidiaries to Norway's LINK Mobility Group for 7.9 million euro ($9.0 million). Allterco sold its units in Bulgaria - Teravoice, Tera Communications and Allterpay, as well as its Romania-based subsidiary Teracomm RO and Macedonia-based Tera Communications DOOEL.
Allterco received 60% of the price in cash and a further 20% is shares in Victory Partners VIII Norway Holding - the sole owner of LINK Mobility Group. The remaining 20% will be paid on a deferred basis within two years.
As at 13:50 CET on Wednesday, Allterco shares traded unchanged from their previous closing price of 2.80 levs on the Bulgarian Stock Exchange.
($ = 0.9005 euro)