October 29 (SeeNews) - Bulgarian IoT products developer Allterco [BUL:A4L] said that its shareholders have approved the distribution of 0.18 levs ($0.10/0.09 euro) per share as interim dividend for the first half of 2019.
Allterco will distribute a total of 2.7 million levs as dividend for the first half of the year, the company said in a bourse filing on Monday.
The 2.7 million levs represent part of the company's reserves formed from share issues, as well as part of its undistributed profit in 2015, 2017, 2018 and the first half of 2019.
In July, 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.
The company turned to a consolidated net profit excluding minority interest of 747,000 levs in the first half of 2019 from a net loss of 411,000 levs in the same period of 2018.
(1 euro = 1.95583 levs)