July 18 (SeeNews) - Bulgarian diversified group Chimimport [BUL:CHIM] said on Monday that its shareholders approved the management's proposal to skip dividend distribution for 2021.
Shareholders representing about 73% of Chimimport's share capital voted to retain last year's standalone net earnings of 21.3 million levs ($11.05 million/10.9 million euro) as undistributed profit, the group said in a stock exchange filing.
Chimimport skipped dividend distribution for 2019 and 2020 as well. Last year, its shareholders voted to keep as undistributed the group's standalone net profit of 20.8 million levs for 2020.
In May, the company posted a 3.3% year-on-year increase in first-quarter standalone net profit to 7.75 million levs, on the back of lower expenses and a 7.3% rise in revenue to 10.3 million.
As at 1332 CEST, shares in Chimimport were trading 2.48% lower at 0.86 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)