May 29 (SeeNews) - Sofia-based Bulgarian-American Credit Bank [BUL:BACB] said on Monday that its shareholders have approved the management's proposal to distribute a gross dividend of 0.10 levs ($0.054/0.051 euro) per share for 2022.
The lender received approval from shareholders last week to pay out a gross dividend of 2.5 million levs in total out of its net profit of 43.7 million levs reported for 2022, BACB said in a stock exchange filing.
The balance of 41.2 million levs will go to the bank's reserve fund.
Last year, BACB did not pay a dividend for 2021, instead allocating the net profit for that year, in the amount of 18.1 million levs, to its reserve fund.
Shares in BACB last traded at 5.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data showed.
(1 euro = 1.95583 levs)