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Bulgaria's Eleven Capital proposes gross dividend of 0.20 euro/share

Bulgaria's Eleven Capital proposes gross dividend of 0.20 euro/share Founders of Eleven VC

SOFIA (Bulgaria), May 27 (SeeNews) - Bulgarian venture capital firm Eleven Capital [BUL:11C] said that it is proposing to distribute a gross dividend of 0.40 levs ($0.21/0.20 euro) per share for 2021.

Eleven Capital will pay out about 920,610 levs from its net profit for last year, with the balance of some 13.2 million levs to be retained as undistributed profit for prior years, the company said in a bourse filing on Thursday.

Shareholders are set to vote on the proposal at a general meeting scheduled for June 30.

The growth investor posted an audited net profit of 13.4 million levs for last year - a nearly tenfold surge on the earnings of 1.4 million levs generated in 2020.

Founded in 2019, Eleven Capital is the owner of the portfolio of Bulgarian venture capital fund Eleven. The company has invested in over 30 predominantly technology businesses in Bulgaria, Europe, the Middle East and the US. Portfolio companies include software firm Kanbanize, cargo drone developer Dronamics and content insights platform SmartOcto.

Eleven Capital became a public company in 2020.

Shares in Eleven Capital were trading 0.56% higher at 18.10 levs as at 1559 CEST on Friday.

(1 euro = 1.95583 levs)

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