May 22 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:5DOV] said on Friday that it is planning to skip dividend distribution for 2019 and use its profit of 1.5 million levs ($837,000/767,000 euro) to form additional reserves.
Doverie United Holding shareholders will vote on the proposal at a meeting scheduled for June 24, the company said in a bourse filing.
As at 9:00 CET on Friday, Doverie United Holding shares traded 2.65% higher at 3.49 levs.
The company turned to a standalone net profit of 1.5 million levs in 2019 from a net loss of 1.9 million levs in 2018.
Doverie United Holding owns majority stakes in over 20 companies active in various sectors of the economy, including healthcare, insurance, banking, retail trade, real estate, and others.
(1 euro = 1.95583 levs)