June 10 (SeeNews) - Bulgarian farming group BG Agro [BUL:BGAG] said on Friday that its shareholders have approved the management's proposal to distribute a gross dividend of 0.16 levs ($0.086/0.081 euro) per share for 2021.
The company, which skipped dividend distribution for 2019 and 2020, will pay its shareholders a total of 6.46 million levs, it said in a bourse filing.
You can download the 2023 Agriculture industry in Southeast Europe report here
BG Agro last distributed a gross dividend for 2018, of 0.04 levs per share.
The decision allows BG Agro to pay its equity owners 195,510 levs, or 90% of its 2021 net profit of 217,232 levs as well as a total of some 6.3 million levs from accumulated undistributed profit from prior years. BG Agro will refer 10% of its 2021 net profit to its reserve fund.
The Varna-based agricultural group posted a nearly fivefold yearly increase in its standalone net profit for 2021.
BG Agro shares last traded on the BaSE market of the Bulgarian Stock Exchange at a price of 1.85 levs apiece, bourse data showed.
(1 euro = 1.95583 levs)