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Bulgaria's Elana Agrocredit land purchase financing nearly triples y/y in April

Bulgaria's Elana Agrocredit land purchase financing nearly triples y/y in April Sunflower, maize

Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said it agreed deals to finance purchases of agricultural land worth 905,100 levs ($481,342/462,770 euro) in April, compared to deals worth 341,310 levs in the same month of 2021.

Elana Agrocredit financed the purchase of 47.2 ha of land last month, compared to 37.3 ha in April 2021, the company said in a monthly report on Thursday.

In April, Elana Agrocredit agreed 15 deals for financing purchases of farm land.

The company typically finances 80% of the value of land purchases, with agricultural fields making up 91.35% of its portfolio.

Elana Agrocredit has proposed to its shareholders to approve a dividend of 0.06726 per share for 2021. The shareholders will vote on the proposal on May 19.

Shares in Elana Agrocredit closed flat at 1.08 levs on Thursday, according to the most recent trading data available from the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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