May 2 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said it will propose to its shareholders to distribute a total gross dividend of 2.68 million levs ($1.5 million/1.37 million euro) for 2022, which represents an increase of 9% compared to last year's payout.
The proposal also involves transferring to a reserve fund 163,490 levs out of the company's overall net profit of 2.84 million levs reported for 2022, Elana Agrocredit said in a stock exchange filing on Saturday.
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Elana Agrocredit last year distributed a total of 2.45 million levs as dividend for 2021, or 0.067 levs per share.
Shareholders in the company will vote on the dividend proposal at a general meeting scheduled on May 30.
Elana Agrocredit's revenue increased to 9.12 million levs in 2022 from 8.05 million levs a year earlier, it announced in January. The total value of lands whose purchases were financed by the company amounted to 115.3 million levs in 2022.
Shares in the agricultural land lessor traded flat at 1.04 levs on the Bulgarian Stock Exchange as at 1449 CEST on Tuesday.
(1 euro = 1.95583 levs)