Bulgaria’s BACB proposes 0.41 euro/share dividend for 2023

The company plans to distribute as dividend some 19.75 million levs out of its net profit of 54.9 million levs reported for last year, with the remaining earnings topping up its reserve fund, BACB said in a bourse filing on Thursday.

The proposal will be put to the vote at a general meeting of shareholders scheduled for May 21.

If the dividend payment is not approved or the central bank imposes restrictions on it, BACB suggests allocating the entire 2023 profit to the company's reserve fund.

The lender distributed a gross dividend of 0.10 levs per share for 2022, or 2.47 million levs in total, according to previously disclosed information.

Earlier this week, BACB said it agreed to acquire 99.94% of the share capital of local Tokuda Bank from Japan-based Tokushukai Incorporated.

As of 1030 CET on Friday, shares in BACB traded 26.67% higher at 11.40 levs on the BaSE market of the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)