June 17 (SeeNews) - Bulgarian hardboard manufacturer Fazerles [BUL:FZLS] said that its shareholders approved a proposal for the distribution of a gross dividend of 1.0 levs per share for 2021 or its entire net profit of 515,000 million levs ($276,090/263,315 euro).
The decision was voted at a general shareholders' meeting held on June 14, the company said in a bourse filing earlier this week.
For 2020 Fazerles also paid a gross dividend of 1.0 levs per share, or a total of 515,000 levs.
Last year, the company's net profit surged from 32,000 levs in 2020 on the back of a 34% rise in operating revenue to 17.2 million levs.
Silistra-based Fazerles, which has a current market capitalisation of 11.3 million levs, makes fibreboard materials for packaging of fruit, vegetables, furniture, automotive and contruction products, and supplies markets on all major continents. The business is owned at 58.59% by Fazerinvest, a joint stock company established by employees of the company.
As at 1506 CEST, shares in Fazerles traded 0.91% lower at 21.80 levs.
(1 euro=1.95583 Bulgarian levs)