Bulgaria's Gradus proposes 0.011 euro/share H1 dividend

The company plans to distribute a total of 5.36 million levs as dividend for the first six months of 2019, Gradus said in a bourse filing on Thursday. 

Gradus' shareholders will put the proposal to the vote at a meeting scheduled for October 25. 

Last month, Gradus said its consolidated net profit rose to 15.6 million levs in the first half of 2019 from 12.9 million levs in the like period of last year.

Gradus consolidates the results of six units - Gradus-1, Gradus-3, Gradus-98, Lora-2004, Millenium 2000, and Zhuliv.

As at 11:30 CET on Friday, Gradus shares traded 0.58% lower at 1.70 levs on the Bulgarian Stock Exchange.

In June 2018, Gradus raised 81.4 million levs in a two-day initial public offering (IPO), making it the biggest IPO on the Sofia stock exchange since 2007. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece.

The company's shares started trading on the Sofia bourse on August 6, 2018.

(1 euro = 1.95583 levs)